Murray Edwards Changes Residency from Calgary to London

[RougeUnderoos]

Would a person like that be able to work around this somehow? Would he pay himself 8 million bucks a month, or would there be some other kind of arrangement?

Either way, paying taxes sucks and we all know that and I can't blame a guy for moving to avoid it. And frankly, as much as I love Calgary, if I had that kind of loot I wouldn't live here either, and London would be at the top of the list of places to go.

[Locke]

Originally Posted by Enoch Root

except his income would likely be mostly dividend

Most likely, but I'm willing to take some time out of my work day to do a free 'quick and dirty.'

Even if it was dividend you've still got corporate tax paid on that and you're still looking at those rates.

The whole point is: if you dont leave it in your company you're looking at similar ballpark numbers.

And I agree with Rouge. If I'm coughing up $50M a year and I can do it anywhere in the world I would certainly be doing it somewhere else.

[CaptainYooh]

So, my primitive math wasn't really as off as CHL had suggested. Say, he does receive most of his income as dividends, even then Alberta and Canada stand to lose tens of millions of revenue from his personal taxes; is that not a fair assumption?

[Enoch Root]

Originally Posted by Locke

Most likely, but I'm willing to take some time out of my work day to do a free 'quick and dirty.'

Even if it was dividend you've still got corporate tax paid on that and you're still looking at those rates.

The whole point is: if you dont leave it in your company you're looking at similar ballpark numbers.

And I agree with Rouge. If I'm coughing up $50M a year and I can do it anywhere in the world I would certainly be doing it somewhere else.

Except in this case, the corps are paying their tax anyway. It's just his receipt of the dividends that is affected here.

What's the current rate on eligible dividends now? 25%?

So roughly $25,000,000?

[darklord700]

Can't blame him. If I had $2B, will I rather live in Calgary than London?

[combustiblefuel]

Originally Posted by CaptainYooh

Not just NDP. Working people earning over $200,000 have now been hit by the provincial tax increase (thanks, NDP), federal tax increase (thanks, Trudeau), salary cuts (thanks, the economy). Potential provincial sales tax - a big possibility, carbon taxes transferred to the consumers somehow - big possibility. But you do know about all of these, don't you?

Oh no !!! We need taxes to take care of everyone in the country instead of just letting them live a #### quality life!!


#### the people below the poverty line who need to work multiple jobs just to stay broke. Lets just let them live miserably and eventually they will just die off . #### those social parisites ruining our country. While we are at it #### the healthcare system it's comple #### any ways who needs universal heathcare. #### public infustructure too.

[combustiblefuel]

Originally Posted by Clarkey

Good for Murray, instead of just bending over and taking this greedy socialist B.S. he's doing something about it.

I blame Harper/Prentice for being stubborn and out of touch and letting these greedy anti-business pigs get in there.

Hahahahaha! O your actually serious? Let me laugh harder..

[Slanter]

Great, so make your fortune pulling oil out of our ground and then hightail it because you don't want to give back a little.

Don't let the door hit you on the way out.

[combustiblefuel]

Originally Posted by Enoch Root

Except in this case, the corps are paying their tax anyway. It's just his receipt of the dividends that is affected here.

What's the current rate on eligible dividends now? 25%?

So roughly $25,000,000?

Not 25 million out of a 2 billion net worth

That would only leave him with one billion nine hundred seventy-five million

What a horrible thing to happen to this man. How would he ever be able to stay off the streets.

[Clarkey]

Originally Posted by combustiblefuel

Not 25 million out of a 2 billion net worth

That would only leave him with one billion nine hundred seventy-five million

What a horrible thing to happen to this man. How would he ever be able to stay off the streets.

How's that trough treating you?

[MelBridgeman]

Originally Posted by Slanter

Great, so make your fortune pulling oil out of our ground and then hightail it because you don't want to give back a little.

Don't let the door hit you on the way out.

"Don't want to give back a little" I would suggest that the Murray Edwards Enterprise has given more to Canada and Alberta than everyone posting on this board and then some. thousands of jobs, billions in tax money, multitude of charity donations and on and on and on. It should be the job of the government to keep these kind of people in Canada - but the current Alberta and Federal government have a completely different ideology that just takes a quick google search to see it doesn't always work so well.

[4X4]

Originally Posted by combustiblefuel

Oh no !!! We need taxes to take care of everyone in the country instead of just letting them live a #### quality life!!


#### the people below the poverty line who need to work multiple jobs just to stay broke. Lets just let them live miserably and eventually they will just die off . #### those social parisites ruining our country. While we are at it #### the healthcare system it's comple #### any ways who needs universal heathcare. #### public infustructure too.

Originally Posted by combustiblefuel

Not 25 million out of a 2 billion net worth

That would only leave him with one billion nine hundred seventy-five million

What a horrible thing to happen to this man. How would he ever be able to stay off the streets.

Woah woah woah... Mr. Nine Thousand Dollar Bike is tripping balls about other people's money, when I ride an old Specialized Rockhopper worth maybe $500? The humanity.

[calgaryblood]

Originally Posted by darklord700

Can't blame him. If I had $2B, will I rather live in Calgary than London?

So you'd only live in Calgary if you had $2.2 billion instead of about $2 billion?

If I had anywhere near a billion dollars I'd live anywhere I wanted and you could also say if you had $2 billion would you rather live in London or California?

[CaptainYooh]

Truth is, if it wasn't for guys like Doc Seaman, Harley Hotchkiss and Murray Edwards, we wouldn't have Flames in Calgary either. But that's not the point. Edwards could care less what we think of him here.

What worries me the most is that guys like Edwards will always find a way to live in the most favourable tax regime of their choosing; thus, reducing Provincial and Federal income tax coffers even further, which means that those people who must work for living and can't afford an elaborate tax shelter other than their RRSP would have to pay even more eventually.

[4X4]

Originally Posted by CaptainYooh

Truth is, if it wasn't for guys like Doc Seaman, Harley Hotchkiss and Murray Edwards, we wouldn't have Flames in Calgary either. But that's not the point. Edwards could care less what we think of him here.

What worries me the most is that guys like Edwards will always find a way to live in the most favourable tax regime of their choosing; thus, reducing Provincial and Federal income tax coffers even further, which means that those people who must work for living and can't afford an elaborate tax shelter other than their RRSP would have to pay even more eventually.

Well he seemed pretty happy here until recently, but I haven't been watching the news.

[CaptainYooh]

Alberta WAS the most favourable tax regime in North America, I believe. I was at a luncheon a few years ago where Ken King was using this argument as one of the reasons why high-income NHL players would want to play in Calgary. The 2016 changes in taxation and, potentially, more taxation will make that advantage disappear.

[4X4]

Originally Posted by CaptainYooh

Alberta WAS the most favourable tax regime in North America, I believe. I was at a luncheon a few years ago where Ken King was using this argument as one of the reasons why high-income NHL players would want to play in Calgary. The 2016 changes in taxation and, potentially, more taxation will make that advantage disappear.

This is groundbreaking news. Why have I not heard it already?

[calgaryblood]

Originally Posted by CaptainYooh

Alberta WAS the most favourable tax regime in North America, I believe. I was at a luncheon a few years ago where Ken King was using this argument as one of the reasons why high-income NHL players would want to play in Calgary. The 2016 changes in taxation and, potentially, more taxation will make that advantage disappear.

Who cares about those advantages when there is a salary cap and we are usually spending to the cap so that means this city will get same tax dollars regardless if it's Colborne getting overpaid or if it's we sign Stamkos.

There are a bunch of other advantages not related to hockey that make it all worthwhile.

[Violator]

Any confirmation he's actually getting payed a salary right know?

[combustiblefuel]

Originally Posted by 4X4

Woah woah woah... Mr. Nine Thousand Dollar Bike is tripping balls about other people's money, when I ride an old Specialized Rockhopper worth maybe $500? The humanity.

I get your point and respect it. It was the only object of value I owned. When I posted about that was back in what 2014??? It's been sold to another person 10 months ago. So whats your point???

That they only object I ever owned of true value was 9000 to make but sold at an extreme lost of 70% that I can't make a comment of a man whos net worth is 2 billion can't afford 25 million?

Or is your cage rattled because he is a majority owner of our beloved Flames and is above critisism because of this fact?

I don't really get your point about hqving a bike I really couldn't really afoord 2 years ago then compare me to a multi BILLIONAIRE.

I get you were trying to make me sound condescending and no different then Mr Murray but it really dosen't work to compare a brake ass guy that had one nice thing in his life that he was proud of for a short time to a guy that is a multi BILLIONAIRE that could wipe his ass with hundred dollar bills and not even wince at it.