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Post by franko on Feb 9, 2024 22:40:37 GMT -5
They'll argue its a dividend because of the work he put in becoming a star... I hope they turn him down and penalize the Saperlipopette out of him so no other athlete, celebrity or entertainer tries this. I'm not sure but I think dividens are also taxed at 26.5%. I don't know where he pulled the 15% from but I can't see RC letting him win the case because it will break open the system to massive abuse. The last bonus I got ($10k) was very early 90s and I'm pretty sure it was fully taxed. I hope they make an example out of him. We can't let "famous" aholes cripple the tax system or give them special favors. I get fully taxed on a $500 bonus! not that comes my way very often. "We'll see how we're doing mid-year" . . . and then it's forgotten about (and I am embarrassed to bring it up, though I may make a point of it, budget-time). |
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Post by Willie Dog on Feb 9, 2024 23:07:34 GMT -5
Employees get bonuses... executives get dividends...
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Post by seventeen on Feb 10, 2024 2:32:11 GMT -5
Dividends are 15%... when I was self employed my accountant told me to take a director's fee which was taxed at 15% I need a better accountant...and that's not a joke. Somehow, I think the government has raised the tax on dividends. They used to gross up the actual dividend amount by 25% but then give you a 15% tax credit, reducing the actual tax cost. It was touch and go as to which kind of income was cheapest, dividends or capital gains. Now, I swear they gross it up by something around 40% and then give you a tax credit but it's not correspondingly as large as it used to be. I don't bother questioning it, because you never win. |
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Post by Willie Dog on Feb 10, 2024 8:41:23 GMT -5
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Post by jkr on Feb 10, 2024 9:59:15 GMT -5
I wonder how much effect it has. The Leafs, as an example, just signed 2 players to large contracts. I would think that lawyers and accountants can figure a way around the rules.  |
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Post by Willie Dog on Feb 10, 2024 11:26:23 GMT -5
Next thing you know, you'll draft a corporation and the player is an employee of the corporation and draws a small salary with the corporation paying for everything and the corporation is located in a state with 0 state income tax or is located in Panama... speaking Panama amazing how that panama paper stuff all disappeared...
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Post by Skilly on Feb 10, 2024 13:05:41 GMT -5
The dispute between the CRA and Tavares has to do with the CAN-US taxation agreement, and what is meant by "inducements"
From Abby O'Brien
CTV NEWS
Toronto Maple Leafs captain John Tavares is taking the Canada Revenue Agency to court over an $8-million tax dispute, according to court documents filed on behalf of the player.
Lawyers for Tavares, 33, filed an appeal in the Tax Court of Canada last week seeking to set aside a CRA reassessment of the return, which found Tavares’ income that year to be $17.8 million higher than he reported.
In its reassessment, the CRA ordered Tavares to pay a rate of 38 per cent on the bonus – plus interest – totalling an additional $8 million, the appeal states.
According to Tavares’ claim, the difference stems from a miscalculation by the CRA of taxes owed on the US$15.3 million signing bonus paid to him by the Toronto Maple Leafs. The appeal argues the bonus should have only been taxed at 15 per cent under a provision of the Canada-U.S. taxation treaty that sets lower rates for “inducements” paid to athletes, artists, actors, or musicians.
The bonus is different from salaried income and should not be considered as such by the CRA, it argues. The appeal also says the bonus was paid into an American bank account and that Tavares spent only 45 days in Canada between September and December of 2018, once playing with the Maple Leafs. In turn, it argues that the 2018 portion of the bonus should be taxed at the 15 per cent inducement rate.
As of Wednesday, the claims have not been tested in court and the Canadian Revenue Agency has not filed a response to Tavares’ appeal.
CTV News Toronto reached out to the CRA and legal representation for Tavares for further comment.
‘Integral’ to the deal
On July 1, 2018, Tavares signed a seven-year, $77-million deal with the Maple Leafs.
The offer wasn't his highest, according to the filing. It states that the "marquee" player got considerable interest from an array of teams, including the San Jose Sharks, Boston Bruins, Tampa Bay Lightning and Dallas Stars. Ultimately, Tavares chose his hometown team, with the filing identifying the signing bonus as an "integral" part of the player's decision.
“The signing bonus was consideration for Tavares — a uniquely skilled and sought-after unrestricted free agent — committing to the seven-year Contract with the Toronto Maple Leafs,” it reads. "He rejected higher-paying offers from other teams, including a seven-year, $91 million offer from the San Jose Sharks."
The $17.8 million bonus payment referenced in the appeal represents only the first yearly payment of Tavares’s entire signing bonus, which totals US$70.9 million over the term of his contract.
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Post by jkr on Feb 10, 2024 15:52:22 GMT -5
Weegar with the hat trick as Calgary beats the Isles 5-2. He now leads all D men with 15 goals.
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Post by Cranky on Feb 10, 2024 16:25:11 GMT -5
I need a better accountant...and that's not a joke. Somehow, I think the government has raised the tax on dividends. They used to gross up the actual dividend amount by 25% but then give you a 15% tax credit, reducing the actual tax cost. It was touch and go as to which kind of income was cheapest, dividends or capital gains. Now, I swear they gross it up by something around 40% and then give you a tax credit but it's not correspondingly as large as it used to be. I don't bother questioning it, because you never win. I'm a rocket scientist when it comes to tech and production but don't really pay attention to finances. My bad. Friends with the CEO of a multibillion dollar corp. I buried him in tech knowledge of his own products but then, he's the one who took his company from 100m to 5 billion. He got a third of a billion parachute. Whose smarter? |
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Post by jkr on Feb 10, 2024 18:20:38 GMT -5
Caps hold Bruins to 18 shots and win 3-0. Lindgren with the shutout and Ovechkin seals it with the empty netter - the 57th of his career. That's almost 7% of his career total.
That goal puts him at number 1 in this category, one ahead of Gretzky. I don't mean to belittle it - when you look at the all time list for this stat, there are a number of great players there.
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Post by Willie Dog on Feb 10, 2024 21:46:26 GMT -5
Sens beat the leafs 5-3... good to see, we need the sens to win some more
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Post by Skilly on Feb 10, 2024 21:53:09 GMT -5
Sens beat the leafs 5-3... good to see, we need the sens to win some more Gallagher got 5 for a first time offense that every called dirty What does Reilly get for this? |
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Post by seventeen on Feb 10, 2024 22:14:41 GMT -5
I saw that and was waiting for someone to react. It was an assinine move by Greig. You don’t give the other team any incentive to kick your a$$ the next time you meet. Just slide the puck in, kid.
I don’t think Reilly will get anything because he was reacting to a code breaker.
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Post by drkcloud on Feb 10, 2024 22:15:18 GMT -5
Sens beat the leafs 5-3... good to see, we need the sens to win some more Gallagher got 5 for a first time offense that every called dirty What does Reilly get for this? Should be good for 5 games, every bit as dirty as the Gallagher hit, Greig's antic is irrelevant. And as for the Gallagher hit, it was almost universally condemned by Habs fans, while in Laffville there is celebrating and rationalizing Reilly. Flipping through the comments on Twitter is disgusting |
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Post by folatre on Feb 10, 2024 22:19:23 GMT -5
It is Toronto, so it will probably be a fine. But seriously a strong case should be made for at least a game or two, given the fact that it was a million years after the whistle/play stoppage and the Sen's scorer took no action to joust sticks when Reilly came after him. The mitigating factor, aside from Reilly being a Leaf, will likely be that the entire unacceptable incident took place in a gear well below true game speed and that Greig himself had time to process what just went down and what the Leafs might do, so Parros will probably rationalize that Greig was not helpless.
I think Reilly should get at least a game suspension and more properly two, but this is Parros deciding so making inexplicable decisions is par for the course, and moreover when he makes illogical inexplicable decisions he can go back to his office and breathe easy since his bosses (Campbell and Bettman) are not really picky about whether he does his job well or poorly.
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Post by Skilly on Feb 10, 2024 23:09:39 GMT -5
I saw that and was waiting for someone to react. It was an assinine move by Greig. You don’t give the other team any incentive to kick your a$$ the next time you meet. Just slide the puck in, kid. I don’t think Reilly will get anything because he was reacting to a code breaker. They don't meet anymore this year So there is a correct way to score? And if you don't score correctly you deserve a cross check to the head? There is an NHL rule that you get a suspension for a dangerous hit late in the games. Someone recently hit someone with 3 secs left and got suspended, this was with 5 secs left I personally think this was worse than Gallagher's elbow. This was deliberate intent |
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Post by Willie Dog on Feb 10, 2024 23:13:06 GMT -5
I heard that the Sens fans were chanting "Pay your taxes"... so funny
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Post by Tankdriver on Feb 10, 2024 23:57:58 GMT -5
I saw that and was waiting for someone to react. It was an assinine move by Greig. You don’t give the other team any incentive to kick your a$$ the next time you meet. Just slide the puck in, kid. I don’t think Reilly will get anything because he was reacting to a code breaker. They don't meet anymore this year So there is a correct way to score? And if you don't score correctly you deserve a cross check to the head? There is an NHL rule that you get a suspension for a dangerous hit late in the games. Someone recently hit someone with 3 secs left and got suspended, this was with 5 secs left I personally think this was worse than Gallagher's elbow. This was deliberate intent Reminds me a little on the Dale Hunter hit on Turgeon in the Playoffs after Turgeon scored. youtu.be/F181mjuEThA?si=v9DtFGbhj9gALEUI |
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Post by Cranky on Feb 11, 2024 0:28:58 GMT -5
That was a reactive slap shot and had nothing to do with "disrespect".
3 games is justice.
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Post by jkr on Feb 11, 2024 7:14:31 GMT -5
I don't condone what Reilley did but I get the anger. A hard shoulder to shoulder hit would have been appropriate. But I found Greig's move was bush league. What is he- 10 years old?
As for punishment- who knows. Parros will go to his office & spin the wheel.
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Post by Willie Dog on Feb 11, 2024 10:45:26 GMT -5
The grizzlick spear on patches was brutal, deliberate sttempt at vasectomy... but seriously tgst was a deliberatezattempt to injure... what about the code... did grizz break the code, should he have been crosschecked in the head?
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Post by folatre on Feb 11, 2024 11:21:18 GMT -5
For sure, spearing a dude in the pills is a code breaker. Grzelcyk must be learning from Marchand.
The little puke is lucky he got kicked out of the game because Wilson would have been hounding him the entire second and third periods. Even though Marchand is a total weasel and McAvoy can be super greasy sometimes, I actually think most of Grzelcyk's teammates, off-record of course, would have opined that if you pull that crup then you only make yourself look like a bigger shetbag if you do not drop the gloves.
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Post by CentreHice on Feb 11, 2024 11:38:08 GMT -5
Yep...looked like sneaky-dirty Marchandesque retaliation for a nothing-hit.
It wasn't a regular tie-up that went wrong. He skated into Max aiming with the blade and watched it all the way. As Messier said during the ESPN intermission, "He clearly was not looking at the puck or any other player there...watch his eyes...he's grown up with a stick in his hands since he was a little boy....hard not to call that one."
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Post by drkcloud on Feb 11, 2024 13:27:05 GMT -5
Looks like Jeremy Jacobs strikes again.. boy player safety sure hates Patches, maybe Dr Recchi provided his expert opinion
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Post by Willie Dog on Feb 11, 2024 13:57:27 GMT -5
Looks like Jeremy Jacobs strikes again.. boy player safety sure hates Patches, maybe Dr Recchi provided his expert opinion Amazing... the hypocrisy... someone needs to spear Nancy marchand right in the junk... just to see what will happen. |
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Post by Cranky on Feb 11, 2024 20:45:11 GMT -5
This is the kind of thing that i want massive retaliation from someone like Mailman or two Xs.
Back in the day EVERYBODY in the known and possibly unknown universe knew Fergy was going to remove teeth. Then it wss Bouchard amongst several just as nasty Habs.
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Post by folatre on Feb 11, 2024 22:25:40 GMT -5
If everything works out and the Habs have a couple of loose cannons up front on the fourth line who can take a regular shift and keep up with play, plus a couple of monsters on the d-corps, then the waters will generally stay calmer than not. And when someone like Grzelcyk wants to stir things up, then him and two or three of his buds are going to have to navigate the corresponding turbulent waters.
It is highly unlikely that Montreal drafts or acquires a paradigm-shifting type talent up front anytime soon so I think the basic idea is to have maybe three guys consistently in the 70-90 point range and one other winger good for 30-35 goals. And on top of that there has to be depth and plenty of speed and size top to bottom. And with all the talent being compiled on the blueline, management is clearly expecting there will be a nice mix of offensive play drivers, shut-down dudes, and specialists.
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Post by Cranky on Feb 12, 2024 1:20:03 GMT -5
First is that we have to establish that we will retaliate and don't give a flying squirrel about the consequences. No such thing as deterrence if the reputation is not there.
Again, going back to Fergy who never failed to deliver a lesson.
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Post by CentreHice on Feb 12, 2024 10:53:07 GMT -5
First is that we have to establish that we will retaliate and don't give a flying squirrel about the consequences. No such thing as deterrence if the reputation is not there. Again, going back to Fergy who never failed to deliver a lesson. Yep...Habs were being pushed around in the early 60s (post-Rocket)...Selke gets Fergie....5 Cups in his 8-year career. Not a coincidence. The league has changed...but there's still dirt that requires attention. |
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Post by jkr on Feb 12, 2024 11:28:35 GMT -5
Reilly had an in person hearing. That usually means at least 5 games, right?
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