Calgarypuck Forums - The Unofficial Calgary Flames Fan Community - View Single Post - Impact of taxing the rich on Canadian Hockey teams

ricardodw · 05-06-2015, 10:20 AM

A few years ago Phil Housley would not consider signing a contract with the Jets because of Manitoba's high income taxes.

In today's environment it seem that all the provinces are looking for extra tax revenue by raising taxes on anyone making more than $300k.

The federal Liberal economic plan wants to raise the tax on everyone making more than 200K ( all NHL players) from a top rate of 29% to 33 %

That combined with provincial income tax Ontario comes in at 53.53%, Quebec’s combined top rate would be 53.3 per cent, 50.4 per cent in Manitoba and 49.8 per cent in British Columbia. Alberta's provincial income tax top rate was set to be 11.5 % in 2016 so overall income tax for the Flames players would be 45.5%

The USA federal income tax (400K+) is 39.6%... with Arizona, Florida, Tennesse, Texas having no state income tax.

Do hockey players have tax avoidance schemes? or do they really pay millions in taxes? Do the Flames pay the taxes in Alberta?

Would a trade from The Leafs to the Stars mean 13% more take home pay?

05-06-2015, 10:20 AM	#1
ricardodw Franchise Player Join Date: Apr 2007 Exp:	Impact of taxing the rich on Canadian Hockey teams A few years ago Phil Housley would not consider signing a contract with the Jets because of Manitoba's high income taxes. In today's environment it seem that all the provinces are looking for extra tax revenue by raising taxes on anyone making more than $300k. The federal Liberal economic plan wants to raise the tax on everyone making more than 200K ( all NHL players) from a top rate of 29% to 33 % That combined with provincial income tax Ontario comes in at 53.53%, Quebec’s combined top rate would be 53.3 per cent, 50.4 per cent in Manitoba and 49.8 per cent in British Columbia. Alberta's provincial income tax top rate was set to be 11.5 % in 2016 so overall income tax for the Flames players would be 45.5% The USA federal income tax (400K+) is 39.6%... with Arizona, Florida, Tennesse, Texas having no state income tax. Do hockey players have tax avoidance schemes? or do they really pay millions in taxes? Do the Flames pay the taxes in Alberta? Would a trade from The Leafs to the Stars mean 13% more take home pay?