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We’re going over the updates in the John Tavares tax situation with the Toronto Maple Leafs and the CRA.
Article: https://toronto.citynews.ca/2024/05/28/cra-disputing-leaf-captains-claim-that-15-25m-paid-in-2018-was-signing-bonus-that-should-be-taxed-at-lower-rate/
This video is taking place after the 2023 NHL Entry Draft, and after the 2023 Stanley Cup Playoffs.
The 2023 NHL Draft 1st Round went as follows:
1st) Chicago Blackhawks, Connor Bedard
2nd) Anaheim Ducks, Leo Carlsson
3rd) Columbus Blue Jackets, Adam Fantilli
4th) San Jose Sharks, Will Smith
5th) Montreal Canadiens, David Reinbacher
6th) Arizona Coyotes, Dmitri Simashev
7th) Philadelphia Flyers, Matvei Michkov
8th) Washington Capitals, Ryan Leonard
9th) Detroit Red Wings, Nate Danielson
10th) St. Louis Blues, Dalibor Dvorsky
11th) Vancouver Canucks, Tom Willander
12th) Arizona Coyotes (from Ottawa Senators), Daniil But
13th) Buffalo Sabres, Zach Benson
14th) Pittsburgh Penguins, Brayden Yager
15th) Nashville Predators, Matthew Wood
16th) Calgary Flames, Samuel Honzek
17th) Detroit Red Wings (from New York Islanders via Vancouver Canucks), Axel Sandin Pellikka
18th) Winnipeg Jets, Colby Barlow
19th) Chicago Blackhawks (from Tampa Bay Lightning), Oliver Moore
20th) Seattle Kraken, Eduard Sale
21st) Minnesota Wild, Charlie Stramel
22nd) Philadelphia Flyers (from Los Angeles Kings via Columbus Blue Jackets), Oliver Bonk
23rd) New York Rangers, Gabe Perreault
24th) Nashville Predators (from Edmonton Oilers), Tanner Molendyk
25th) St. Louis Blues (from Toronto Maple Leafs), Otto Stenberg
26th) San Jose Sharks (from New Jersey Devils), Quentin Musty
27th) Colorado Avalanche, Calum Ritchie
28th) Toronto Maple Leafs (from Boston Bruins via Washington Capitals), Easton Cowan
29th) St. Louis Blues (from Dallas Stars via New York Rangers), Theo Lindstein
30th) Carolina Hurricanes, Bradley Nadeau
31st) Colorado Avalanche (from Florida Panthers via Montreal Canadiens), Mikhail Gulyayev
32nd) Vegas Golden Knights, David Edstrom
This video is also taking place after 2023 NHL Season, and after the 2023 Stanley Cup Playoffs, where the Vegas Golden Knights defeated the Florida Panthers in the Finals.
Twitter: @LR99Gaming
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Hi. I’m “Gio Palermo”, also known as “legorocks99” (“legorocks99Gaming”, “LR99Gaming”, or “LR99”). I post video game commentaries on YouTube revolving around “hockey”, with a primary focus on “Vancouver Canucks”, “Montreal Canadiens”, “Detroit Red Wings”, and top “NHL prospects” topics. These videos are uploaded with “NHL 24” gameplay in the background. I enjoy making these videos and I hope that you enjoy watching them!
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20 Comments
Bruins
Yeah, this dude is definitely not taking a pay cut to stay in Toronto, lol
CRA tax rate is a little bit higher? Lets be serious its a lot freken higher
Trying to circumvent tax laws by being paid mostly in bonuses SHOULD be taxed.
But…this storey will very likely cause some players in the future from wanting to join a Canadian team
He would wear leafs pajamas, wouldn't he!? 😂
The Leafs are behind all this trying to get Tavares to accept a trade out of Toronto. There's my hot tin hat take.
Tavares' agent should have pressed CRA for clarification before drawing up the Leafs contract in 2018. And Dubas shouldn't set up a trap for Tavares to fall into.
The players all get paid in USD. The only difference is in the taxes based on locality.
it's a millionaire whining about taxes. So imagine everyone in Canada sued the CRA because of incoming tax.
If the CRA makes this a hill they want to die on, then they are shooting themselves in the foot for future tax revenue. What will happen is that players will just refuse to sign with Canadian teams. That’s it. That equals tax rate of 0%.
CRA are a bunch of hacks and thieves
More reasons why players should not sign with Canadian teams
If our government didnt give hundreds of milllions of taxpayers dollars to corporations, who then give 10s of millions in untaxable stock bonuses to their CEOs, i wouldnt have a provlem with this. But they do so im not in favour of going after any private citizen, i dont care if they are millionaires or thousandaires….
I find this stuff confusing, so I'm not sure if I actually understand it. But what I think happened, but don't quote me on it, is that there is something in place to lure talent from other countries to come to Canada. Many have called Toronto "Hollywood North", most people don't realize that tons of Hollywood movies are actually filmed here. There are some sort of tax rules to keep that industry strong I've heard, but I'm not into movies so I don't know. Tavares, the guy who had the Toronto Maple Leaf pajamas as a kid, seems to be claiming to some degree that he is foreign talent being lured because he had a house in Long Island or something. Like I said, I might be completely wrong, but that's the way I understood it anyways.
I can barely afford anything in Canada. I don't care what he has to pay the CRA because, in the end, he's doing better than 95% of Canadians
Canadian taxes suck. I hope Tavares wins this dispute.
The CRA is right Toronto tried to get talent to play there, by circumventing the tax system. Your bonus should never $7 million and salary $950.000 that bad optics and just a smack in the face to our. Tax system.
If this goes through, the Canadian Teams will be 2nd class teams and will only have stars until their entry level salary and restricted free agent period are effect. Once they reach unrestricted free agent status, they are jumping to a US team for the rest of their careers. The only UFA players available to Canadian Teams will be those not picked up by the US teams. The salary cap should be level for all teams based on the take-home pay after taxes. It is the only way to make fair for all teams… 😮
Taxes are robbery in Canada.
The Marner and Travers are not going to waive there no move clause. We are still screwed for the limited cap space. If they are dinks for the next thirteen months they may have to let them walk with no return. Come July 2025 the team will have a ton of cap space. Go get the people you need and make it happen in year 2025/26 or 2026/27.