Prospect Info: Mikhail Sergachev

[President Markov]

I was also interested in this -- from my understanding players salary are divided by 180 days (there are 180 days in the regular season) and then are paid twice per month.

I divided $950 000 by 180 days = $5 278

He stayed in Montreal for 19 regular season days if I am not mistaken which means $5 278 x 19 = $100 282

So you guys were closed enough!

I'm guessing he has to pay around 50% in taxes so he's left with about $50 000. Take out escrow, player agent fees and he's probably down to $35 000 or so.

He's probably burned a bunch of it already as any teenager with a newly found fortunate would do (maybe a car, clothes, restaurants, bars, video games, etc) so I am guessing he is going back to Windsor with $15 000 or $20 000 in his bank account.

Don't forget his signing bonus too!

Just to specify
You would be right by saying that he would've been taxed a bit over 50% as an average tax rates IF he would've made his full salary over a year (annual salary of 950k).

But in his case - lets pretend he doesn't get any more income during the year (for the sake of the example) - if he has annual salary of 100 282$, then he is only taxed with an average tax rate of 30.68% for 2016; meaning he still has 69 515$ after tax. (example using Qc tax rates for 2016)

Then you can trim out escrow, agent fees, etc..

 

[tooji]

Just to specify
You would be right by saying that he would've been taxed a bit over 50% as an average tax rates IF he would've made his full salary over a year (annual salary of 950k).

But in his case - lets pretend he doesn't get any more income during the year (for the sake of the example) - if he has annual salary of 100 282$, then he is only taxed with an average tax rate of 30.68% for 2016; meaning he still has 69 515$ after tax. (example using Qc tax rates for 2016)

Then you can trim out escrow, agent fees, etc..

Yeah it gets a bit more complicated when you consider that he is taxed differently depending on whwre the habs played. For example when they played the islanders he was only taxed by new yorks income tax etc.

 

[Redux91]

It's the best situation really, he got to get his feet wet, see what the pro game is like and now go back to a memorial cup run. For a very young 18 year old that's all super experience, far more than I initially though he would get when we picked him last June.

Totally Agreed

i didnt think he should make the team out of camp, but im glad he got a taste, and now needs to help his team(s) reach the pinnacles of junior hockey

 

[Gally11]

Yeah it gets a bit more complicated when you consider that he is taxed differently depending on whwre the habs played. For example when they played the islanders he was only taxed by new yorks income tax etc.

I don't think that's how that works.. I used to have to go to leave the country for work and I wasn't taxed any differently if I was living somewhere else for a month or two.

 

[DesmondDekker]

Quick question for those who might know the answer..

Why is Alexander Nylander playing in the AHL this season !? Not that I mind having Serge in the OHL for a big year and a Memorial Cup run... But just like Nylander, he was drafted out of the CHL so how can one play in the AHL while the other cannot ?!

 

[Paddyjack]

Yeah it gets a bit more complicated when you consider that he is taxed differently depending on whwre the habs played. For example when they played the islanders he was only taxed by new yorks income tax etc.

Usually it is your home address, for 6 months and more.

Like, when I left from Quebec City to Vancouver, it was on June 24th so because I spent more than 6 months in BC that year, my income tax was based on BC province.

 

[Deaner]

Quick question for those who might know the answer..

Why is Alexander Nylander playing in the AHL this season !? Not that I mind having Serge in the OHL for a big year and a Memorial Cup run... But just like Nylander, he was drafted out of the CHL so how can one play in the AHL while the other cannot ?!

His SHL team had technically "loaned" him to his OHL club, so for the purposes of the draft, his rights holder was that SHL club.

 

[DesmondDekker]

His SHL team had technically "loaned" him to his OHL club, so for the purposes of the draft, his rights holder was that SHL club.

Thanks for the info !

 

[jaffy27]

Yeah it gets a bit more complicated when you consider that he is taxed differently depending on whwre the habs played. For example when they played the islanders he was only taxed by new yorks income tax etc.

No!......I'm an airline pilot based out of Montreal. Now if I'm flying out of Vancouver to Cancun, I don't get taxed British Columbia tax. Heck, I flew out of Poland for an entire summer and was taxed by the Quebec government.

You're taxed from the province you're based in. In Sergachev's case, he works for the Canadiens, therefore it's Quebec.

Now, at seasons end, when you're doing your tax, they will ask you where you resided on Dec 31st, and in the case of Sergachev it will be Windsor, and he will fall in the Ontario tax jurisdiction, hence, get a nice refund come the end of April beginning of May.

 

[MXD]

...I'm 100% convinced that Sergachev's residence is Windsor (Ontario) for tax purposes. But "les retenues fiscales" were made on the basis of Québec.

Sergachev will have a nice tax return in April/May.

 

[jaffy27]

Usually it is your home address, for 6 months and more.

Like, when I left from Quebec City to Vancouver, it was on June 24th so because I spent more than 6 months in BC that year, my income tax was based on BC province.

When I first moved to Quebec in 2007, I moved from Saskatchewan to la Belle Province in mid November (same date as my join date here ), big mistake, the Quebec government dinged me an entire years worth of tax because I resided in Quebec on December 31st.

A 7000$ bill came my way, because I was only paying Saskatchewan income tax for 11 months.

 

[Brainiac]

Usually it is your home address, for 6 months and more.

Like, when I left from Quebec City to Vancouver, it was on June 24th so because I spent more than 6 months in BC that year, my income tax was based on BC province.

If it's profitable, NHL players are taxed depending on where the work is actually done. That is common knowledge.

The whole taxation issue is pretty much overblown.

 

[Naslund]

Will be interesting to see if they have him play on the left side. I'm sure this is where Montreal wants him to play in the future. Windsor fans, which side do you see him play?

 

[Whitesnake]

I like that it was their plan all along. Like how adamant they were about it too. Take some notes kid, and come back to us stronger next year!

 

[Stoneburg]

Just to specify

But in his case - lets pretend he doesn't get any more income during the year (for the sake of the example) - if he has annual salary of 100 282$, then he is only taxed with an average tax rate of 30.68% for 2016; meaning he still has 69 515$ after tax. (example using Qc tax rates for 2016)

I am not a payroll professional, but I have done the payroll for my own small company for years and you are right, to an extent.

There is something called payroll deduction tables

http://www.cra-arc.gc.ca/E/pub/tg/t4032qc/README.html

and how it works is: you look for the province of employment, then look at the table that applies in terms of frequency of payments (in this case, it seems to be 24 payments/yr), and then you look up the pay for that period, and then it tells you the income tax to deduct etc.

My point, he probably paid the income tax for those 19 days as if he would have been paid $950,000/yr. then since he only got the 100k, he will get the tax back when he files his income tax.

I know what I said is a simplification, but the point remains: he would have paid the tax on the 950K for 19 days, then would get the tax back when he files. Or something like that.

 

[President Markov]

My point, he probably paid the income tax for those 19 days as if he would have been paid $950,000/yr. then since he only got the 100k, he will get the tax back when he files his income tax.

I know what I said is a simplification, but the point remains: he would have paid the tax on the 950K for 19 days, then would get the tax back when he files. Or something like that.

You are absolutely correct. My example was implying this since I only wanted to correctify the previous calculations of how much will remain for him of his NHL salary by year end.

 

[that is unfortunate]

He can't be a bust with that name, high quality hockey name.

 

[Belial]

Saginaw Spirit 2 Windsor Spitfires 4 (Final)

Mikhail Sergachev - no points

Bust

 

[Redux91]

Saginaw Spirit 2 Windsor Spitfires 4 (Final)

Mikhail Sergachev - no points

Bust

its OVER!

christmas is cancelled.

no presents for anyone.

 

[TT1]

http://blackburnnews.com/windsor/windsor-news/2016/11/03/sergachev-back-face-saginaw/

“They told me I just got to be quicker. Nothing else, just got to be quicker, think quicker, make plays quicker,” says Sergachev.

Literally the most important thing he needs to improve on, if he does he's going to be an absoluate STUD.

 

[dackelljuneaubulis02]

http://blackburnnews.com/windsor/windsor-news/2016/11/03/sergachev-back-face-saginaw/

“They told me I just got to be quicker. Nothing else, just got to be quicker, think quicker, make plays quicker,†says Sergachev.

Literally the most important thing he needs to improve on, if he does he's going to be an absoluate STUD.

Even with the shakiness in his game I was still really really impressed at some of the stuff he pulled off in the bigs. His offensive tool box is off the charts. I knew the speed and size was all elite but at the rookie tournament his vision/passing was unreal. It was a bit pond hockey in those games but still. Jaw dropping passer. Then in regular season his hands were just magic. Didn't know he was that good of a stick-handler too. Add a big slapper and this guy's just a grand slam at #9. Highway robbery. Pretty confident he'll be in the league next year I'm just hoping he'll be ready to make an impact that soon. We could really use a PMD like him as soon as yesterday. If he gets anywhere near his potential then we have one of the best D corps in the league imo.

 

[Lafleurs Guy]

Still nice to know we've got a good puck mover in the system.

 

[angry pirate]

No!......I'm an airline pilot based out of Montreal. Now if I'm flying out of Vancouver to Cancun, I don't get taxed British Columbia tax. Heck, I flew out of Poland for an entire summer and was taxed by the Quebec government.

You're taxed from the province you're based in. In Sergachev's case, he works for the Canadiens, therefore it's Quebec.

Now, at seasons end, when you're doing your tax, they will ask you where you resided on Dec 31st, and in the case of Sergachev it will be Windsor, and he will fall in the Ontario tax jurisdiction, hence, get a nice refund come the end of April beginning of May.

I don't think that's how that works.. I used to have to go to leave the country for work and I wasn't taxed any differently if I was living somewhere else for a month or two.

He's actually correct. I can't find the source right now but professional athletes are taxed based on each individual city they play in. Read an article on it a year or two ago. I'll look for it later.

 

[scrubadam]

He's actually correct. I can't find the source right now but professional athletes are taxed based on each individual city they play in. Read an article on it a year or two ago. I'll look for it later.

Look up Jock tax on wiki.

What I am not sure is if they have to pay that on top of the provincial taxes as well.

 

[Stoneburg]

http://blackburnnews.com/windsor/windsor-news/2016/11/03/sergachev-back-face-saginaw/

“They told me I just got to be quicker. Nothing else, just got to be quicker, think quicker, make plays quicker,†says Sergachev.

Literally the most important thing he needs to improve on, if he does he's going to be an absoluate STUD.

I agree that is the most important thing to improve upon, the rest should fall into line. Having said that, I think he tried to be a bit too cute sometimes, he needs to fix that too. But his offensive skill was obvious.