Dude, I'm scared ****less. I love this team more than anything. I don't want them to leave and have had tix for over 15 years. I know guys in the corporate world that I am in, and they are getting boxes without the expense. And Cyril knows there is no one banging on the door as of the tax structure now to get a box, never mind the draconian manner McGuinty wants to treat the corps.
There's nothing to worry about until there's something worry about. We don't even know if this is going to happen. When it does, we can worry. Until then, there's no point. It will always be somewhat of a struggle to have a team in Ottawa. We have a relatively small market, do not sell out every game and lack corporate support. But there are loyal fans here and we've done well so far. Stop stirring the fires. The Sens are just fine.
This is much much bigger then the sens if they do away with this break it will have a big impact all over not just Ottawa the other thing is this is not just sports it would include festivals even going to the golf course and places like the nac in Ottawa and much the same in Tornto etc.
A reporter and Leeder both pointed out that our attendance is up by 1K and that we are averaging 100% capacity, so the reporter asked what was so important about increasing the season ticket base if we're already selling out?
Garenteed revenue...no need to spend (as much) on marketing to sell out those game.
There's nothing to worry about until there's something worry about. We don't even know if this is going to happen. When it does, we can worry. Until then, there's no point. It will always be somewhat of a struggle to have a team in Ottawa. We have a relatively small market, do not sell out every game and lack corporate support. But there are loyal fans here and we've done well so far. Stop stirring the fires. The Sens are just fine.
The corporate support is very good, actually. Joe fan isn't renting the boxes, the money grubbing corporate ******** are. They do it to get their write off. Most of the people like to marginalize that. I don't.
There is no struggle right now. Sales are fine, revenues have always been very good, even in the darkest days. It was always financing issues and the dollar. The dollar is at par. The financing issue was settled with Melnyk buying the team out of recievership.
I am not stirring anything. Like I have repeated over and over again, i know people who will not get the box without the tax writeoff. Two boxes actually. I know another guy who has 4 club seats who won't renew all four. He might cut it in half or none at all. I am more connected than some people here and that is why I am very concerned about it. Take it for what it's worth. Those are experiences that I am passing on to the good people on this forum. Sure I am worried.
If the corporation makes 300,000.00 they are going to pay federal taxes and provincial taxes at their respective corporate rates. The Ontario government will have that company pay taxes based on that amount. If someone has that 125K box, their taxable income drops to 237,500.00. 50% write off. That is just the box expense, not the seats, food, etc...that goes a long with it. It ain't chump change.
coladin
I really doubt there going to cut the write off as not only would it have a impact in Ottawa it would also impact Toronto etc i do think changes could be made but i can't see them doing away with it.
coladin
I really doubt there going to cut the write off as not only would it have a impact in Ottawa it would also impact Toronto etc i do think changes could be made but i can't see them doing away with it.
I didn't like Bob Chiarelli's backpedaling, though. At first he came off like "it's just a proposal" and now he is towing the company line marginalizing the effect.
I didn't like Bob Chiarelli's backpedaling, though. At first he came off like "it's just a proposal" and now he is towing the company line marginalizing the effect.
I hope not.
It would be risky if they did this look at the amount of not only sports but festivals etc it would hurt the other thing with Toronto hosting the pan am games in 2015 companys play a huge role in those type of games now your going to tell companys they can't write off part of the cost i just could not see it going over well.
15 million is a joke of a sum when facing a 65 billion deficit. That is like paying off 15 dollars when you owe 6500. Maybe they should look into cutting down the costs of all the b/s these so called politicians run up with our tax money. Yeah lets punish the ones that actually do good in the community. This is such a joke.
You really think this is the only thing they are looking at cutting?
You really think this is the only thing they are looking at cutting?
If you look at the money that they have and are spending you need to make massive cuts is cutting $15 million here and a few million in other areas going to help no major cutd hsvr to be made but i doubt that will happen.
coladin, you might want to read this so you understand exactly what your accountant is doing for you and your business.
That is pretty much what I described above. We pay the 26.25%, not the small business rate. So do most suite holders who will have an issue with the proposal.
At the end of the day, this will be a problem not so much for those who have seats, but the boxes who play the larger tax rate.
That is pretty much what I described above. We pay the 26.25%, not the small business rate. So do most suite holders who will have an issue with the proposal.
At the end of the day, this will be a problem not so much for those who have seats, but the boxes who play the larger tax rate.
Its not so much the multi national companys that i think would be that worried its the small companys if it comes to the point you can't write off entertainment or meals that would hurt the small companys.
For those who have corporate accounts, it is very important. For those who don't, well, I gues not.
Yeah fair enough, I just was never able to take the story that seriously. If it came from the sports world it might carry more weight but the fact that it was government driven, not many details provided, it just didn't seem like a legitimate story and I had a feeling it would be squashed rather quickly.
= $112,000 to the province per game.
= $4.6 million per season
+ About 14.5 million in provincial income tax on the players salaries
+ all the concessions & merchandise.
+ all the provincial income tax on the remaining staff salaries.
This is bad policy, plain and simple. The fact that the government didn't consult the team first on this is insanity.
Don't forget federal taxes... About 20% of the provinces revenue is from Federal govt transfer payments.
Also the Senators pay taxes on any corporate profits, and Melnyk plus all the Sens upper management and coaching staff would likely pay a significant amount of income taxes. Lets not forget the service employees who might be unemployed collecting GST rebate cheques, social assistance, and EI if not for the Sens.
It's sad that so many people try to frame this as a "subsidy" while being blind to the amount of tax revenue the Sens generate.
