Quote:
Originally Posted by Jay Random
Not true. A net income of a million Canadian dollars is much less than a net income of a million U.S. dollars. When you're earning seven figures, most of your income should be going into investments, not living expenses, and you don't get a discount on investments by paying for them in loonies.
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But in this case, it's not 1M USD vs 1M CAD. The exchange has fluctuated between 1.20 and 1.35 the last few years.
10M USD right now is worth 13.3M CAD, which is definitely something to take into account. I'm not saying that Tavares will come to Calgary, but if you take into account the FX, low cost of living and the fact that Alberta is the lowest taxed province with an NHL team, Calgary makes sense if he's chasing money.