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Player Taxes in NHL

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Old
04-09-2011, 03:30 PM
  #51
Team_Spirit
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Originally Posted by Lucius View Post
Pittsburgh isn't exactly a cultural mecca.

Montreal, New York, Chicago, Los Angeles, San Jose and Vancouver are likely the top teams in terms of desirable locations.

I'm still shocked Florida and to a lesser extent Tampa don't get top quality free agents. Miami is a fun place to live for 20 to 30 somethings and they pay so little tax. We've seen a few people go there over the years, like Pavel Bure, but still. Why do you think the Big 3 really went there in the NBA?

Bure had no choice, he was traded. And when guys hits UFA status they are already near 30 and want to be on a good team.

The team and organisation and more important for these guys because they are never ''home'' and when they are they have to get ready for the next game.

When the vacation start they all go back home or in a nice resort.

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04-09-2011, 03:41 PM
  #52
ppil
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Sure, if you have your own company, or if you work for your own account, there's plenty of ways to hide some revenues or things like that, but when you are a celebrity and your salary is publicly known you are pretty much screwed. You will be able to pay the best accountants and get all possible tax credits and things like that, but not to the level of making a huge difference (relatively to the millions they are paying in taxes).


Last edited by ppil: 04-09-2011 at 03:46 PM.
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Old
04-09-2011, 03:48 PM
  #53
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Does anybody have a source to prove this?

I heard from many rich people (that I can trust) that this is just a myth.

Sure, if you have your own company, or if you work for your own account, there's plenty of ways to hide some revenues or things like that, but when you are a celebrity and your salary is publicly known you are pretty much screwed. You will be able to pay the best accountants and get all possible tax credits and things like that, but not to the level of making a huge difference (relatively to the millions they are paying in taxes).
Yeah to be honest I think people with little financial experience think that accountants can find loop holes, the government knows of these and shut them down with every budget, (the conservative budget proposed shut down a few major ones) it's difficult for a millionaire to hide taxes when they're not incorporated, which no athlete is.

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04-09-2011, 03:50 PM
  #54
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If your residence is counted as Florida, you might get taxed at the QC rate but then get reimbursed. Or something like that.

I do agree that there should be something done to make it fair for high tax teams but I'm sure something's already been done - and if they open the books up it might lead to a can of worms.

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Old
04-09-2011, 03:57 PM
  #55
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Originally Posted by WhiskeySeven View Post
If your residence is counted as Florida, you might get taxed at the QC rate but then get reimbursed. Or something like that.

I do agree that there should be something done to make it fair for high tax teams but I'm sure something's already been done - and if they open the books up it might lead to a can of worms.
Canadian tax is reduced by the amount paid to another jurisdiction, so assuming your a resident of Florida and are taxed at 5% (made up), the tax payable to QC would be 40% - 5%. It is a reduction but only because it has been paid somewhere else.

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