Taxes on UFAs signing in Montreal.

[The Real Timo]

A player like Pazette should be planning is after career. 500 000 - 750 000 would not last him a lifetime either. Pazetta should just appreciate the fact he is in the NHL. I like the guy but many players about his skills level are rotting in European pro league.

He should get a job after hockey then just like the rest of us. It’s fun.

 

[Boss Man Hughes]

He should get a job after hockey then just like the rest of us. It’s fun.

He will make that for at least 5 or 6 years. He won't need another job.

 

[LaP]

He will make that for at least 5 or 6 years. He won't need another job.

Not working for 30-40 years of your life gets boring very fast. He'll find something either a company he'll create or a job. Very few people are capable to spend 30-40 years having fun and travelling after a few years it gets old.

 

[JianYang]

Not working for 30-40 years of your life gets boring very fast. He'll find something either a company he'll create or a job. Very few people are capable to spend 30-40 years having fun and travelling after a few years it gets old.

Yes, all the players that I know of are at least working on something post retirement.

But that mindset of working because you want to instead of because you have to is a great place to be from a peace of mind standpoint.

 

[salbutera]

Not working for 30-40 years of your life gets boring very fast. He'll find something either a company he'll create or a job. Very few people are capable to spend 30-40 years having fun and travelling after a few years it gets old.

I wish I could’ve had the opportunity to experience such “boredom”, working sucks - even though I’m forever grateful for what life has afforded my family.

I’m sure 20-years can easily be spent playing Mr.Mom, should financial means allow

 

[Scintillating10]

Other than Leafs / Tavares no Cdn team has ever been able to sign a PPG UFA F

Habs have been able to sign 2nd & 3rd tier talents not top-20 scoring talents - in the rare exception one is available they always sign with a large US market (NYR, Phi, Chi) or a southern no tax market.

It's understandable why. Following Pezzetta comments. Why would they sign here? Do an example for you.

Rantanen be ideal signing for Habs next summer. Habs have Around 20 million coming off the books. Rantanen proven 50 goal scorer, back to back 100 point seasons. Addresses size issue, can play either center or wing, at 28 be in his prime years. He's perfect fit in Habs top 6.

Rantanen would command, minimum 12 million. Montreal has the caproom so no issue there. But he's going to lose over half his salary. Compared to 37% in tax free state. Around 15% on 12 million. Roughly 1.8 million a season, multiple by 8 years. Around 16 million dollar loss signing in Montreal. Would you throw away 16 million dollars?

 

[BLONG7]

It's understandable why. Following Pezzetta comments. Why would they sign here? Do an example for you.

Rantanen be ideal signing for Habs next summer. Habs have Around 20 million coming off the books. Rantanen proven 50 goal scorer, back to back 100 point seasons. Addresses size issue, can play either center or wing, at 28 be in his prime years. He's perfect fit in Habs top 6.

Rantanen would command, minimum 12 million. Montreal has the caproom so no issue there. But he's going to lose over half his salary. Compared to 37% in tax free state. Around 15% on 12 million. Roughly 1.8 million a season, multiple by 8 years. Around 16 million dollar loss signing in Montreal. Would you throw away 16 million dollars?

It puts the team at a huge disadvantage for sure...............hard to believe anyone would give up that kind of money....

 

[CHfan1]

It's understandable why. Following Pezzetta comments. Why would they sign here? Do an example for you.

Rantanen be ideal signing for Habs next summer. Habs have Around 20 million coming off the books. Rantanen proven 50 goal scorer, back to back 100 point seasons. Addresses size issue, can play either center or wing, at 28 be in his prime years. He's perfect fit in Habs top 6.

Rantanen would command, minimum 12 million. Montreal has the caproom so no issue there. But he's going to lose over half his salary. Compared to 37% in tax free state. Around 15% on 12 million. Roughly 1.8 million a season, multiple by 8 years. Around 16 million dollar loss signing in Montreal. Would you throw away 16 million dollars?

I’d be surprised if Rantanen even hits the open market next July 1st. Most elite players entering their final year of their contract typically sign an extension with their current team.

As far as UFA’s go I expect many contracts signed on July 1st this year won’t work out well in the long run.

 

[ReHabs]

The problem isn't just signing UFAs but retaining a Canadian team's RFAs and soon-to-be UFAs. See how Matthew Tkachuk bolted and how Matthews & Cie. pummelled Toronto's cap planning.

The disadvantage is undeniable but... not catastrophic. I think a winning organization that does everything else correctly could get by... but not one Canadian NHL club has been particularly well-run. Maybe VAN and MTL can break the mould.

 

[LaP]

The problem isn't just signing UFAs but retaining a Canadian team's RFAs and soon-to-be UFAs. See how Matthew Tkachuk bolted and how Matthews & Cie. pummelled Toronto's cap planning.

The disadvantage is undeniable but... not catastrophic. I think a winning organization that does everything else correctly could get by... but not one Canadian NHL club has been particularly well-run. Maybe VAN and MTL can break the mould.

The main problem of Canadian teams is how badly they are run.

 

[JianYang]

The problem isn't just signing UFAs but retaining a Canadian team's RFAs and soon-to-be UFAs. See how Matthew Tkachuk bolted and how Matthews & Cie. pummelled Toronto's cap planning.

The disadvantage is undeniable but... not catastrophic. I think a winning organization that does everything else correctly could get by... but not one Canadian NHL club has been particularly well-run. Maybe VAN and MTL can break the mould.

What vancouver has done is interesting. I don't know if it's by plan, but they barely have any Canadians on their roster, and a ton of Americans.

I'm not going to pretend to be a cross border tax expert, but I do understand that it's a complex issue that involves extensive knowledge of the canadian tax code, American tax code, and the canada US tax treaty.

Anyways, on a high level, it appears more advantageous from a tax standpoint for a non-resident to play in Canada than it is for a Canadian resident. I just wonder if it's a coincidence that they have so many Americans and very few canadians. I recall one night when they made headlines for having like zero or one Canadian in their lineup.

Regardless, cup winners since the cap era have one thing in common and that is they they build and develop primarily through the draft. Chicago and LA won 5 cups in the cap era alone, and those are definitely high cost jurisdictions.

 

[salbutera]

What vancouver has done is interesting. I don't know if it's by plan, but they barely have any Canadians on their roster, and a ton of Americans.

I'm not going to pretend to be a cross border tax expert, but I do understand that it's a complex issue that involves extensive knowledge of the canadian tax code, American tax code, and the canada US tax treaty.

Anyways, on a high level, it appears more advantageous from a tax standpoint for a non-resident to play in Canada than it is for a Canadian resident. I just wonder if it's a coincidence that they have so many Americans and very few canadians. I recall one night when they made headlines for having like zero or one Canadian in their lineup.

Regardless, cup winners since the cap era have one thing in common and that is they they build and develop primarily through the draft. Chicago and LA won 5 cups in the cap era alone, and those are definitely high cost jurisdictions.

I’ve been saying it for a long time Habs have such an incredible competitive advantage vs US markets, by targeting American resident players on heavy bonus structured contracts - they’ve got no issue handing out bonu$e$, and having Gorton / Hughes/ MSL who know and are very well known US hockey entities puts them in strong position to lure players.

Secondly, American players in general IMO appreciate & embrace the notoriety that comes along w being a Hab vs Cdn / Euro players who tend to seek anonymity

With USA hockey development quickly challenging to become the best development program in the world…. it becomes almost a perfect storm for the Habs org

 

[LaP]

I’ve been saying it for a long time Habs have such an incredible competitive advantage vs US markets, by targeting American resident players on heavy bonus structured contracts - they’ve got no issue handing out bonu$e$, and having Gorton / Hughes/ MSL who know and are very well known US hockey entities puts them in strong position to lure players.

Secondly, American players in general IMO appreciate & embrace the notoriety that comes along w being a Hab vs Cdn / Euro players who tend to seek anonymity

With USA hockey development quickly challenging to become the best development program in the world…. it becomes almost a perfect storm for the Habs org

The culture of stars is definitely more prominent in the US than Canada. For americans it's mostly normal. In fact the way we act toward hockey players here is nothing in comparison to stars in LA.

 

[salbutera]

The culture of stars is definitely more prominent in the US than Canada. For americans it's mostly normal. In fact the way we act toward hockey players here is nothing in comparison to stars in LA.

Even just in sports that culture of notoriety, “being the man” starts in high school onwards - high school sports: football, basketball and hockey in strong regions (Northeast & Minny) they’re on par with college & pro levels for many states. (High school football in Texas / high school hockey in Minny or New England etc)

 

[junyab]

Pezetta needs a better financial advisor. He should be taking advantage of Canadian RCAs.

The RCA: Helping Professional Hockey Players Pay Substantially Less Income Tax - GBL

Taxes are said to be one of the things that are certain in life, and professional hockey players sure do pay a lot of them. As the National Hockey League (NHL) crowns the Colorado Avalanche as the 2022 Stanley Cup Champions, this signals the start of an off-season where players will have the...

gblinc.ca

 

[JianYang]

Pezetta needs a better financial advisor. He should be taking advantage of Canadian RCAs.

The RCA: Helping Professional Hockey Players Pay Substantially Less Income Tax - GBL

Taxes are said to be one of the things that are certain in life, and professional hockey players sure do pay a lot of them. As the National Hockey League (NHL) crowns the Colorado Avalanche as the 2022 Stanley Cup Champions, this signals the start of an off-season where players will have the...

gblinc.ca

Any accountant worth half his weight should have steered him towards tax planning opportunities

 

[Habby4Life]

The main problem of Canadian teams is how badly they are run.

guys will come if they think the team has a real chance at winning.

 

[LyricalLyricist]

Taxes have always been an issue. From Gainey to Bergevin to now Hughes. Everyone saying we got some magic GM now but we still won't get the star UFA anyway.

These are issues that exist in Montreal and we can't avoid it.

That said, montreal is a nice city compared to some other options. The people love the team and there are many other positives. It is what it is.

 

[salbutera]

DA has discussed in the past, but some visual perspective on housing cost comparison in no state tax Texas (Dallas suburb similar to Candiac), even taking into account currency exchange

https://x.com/i/web/status/1817798736799781222

 

[CrAzYNiNe]

DA has discussed in the past, but some visual perspective on housing cost comparison in no state tax Texas (Dallas suburb similar to Candiac), even taking into account currency exchange

https://x.com/i/web/status/1817798736799781222

f***

 

[habbubba]

A few of the players I knew, some French Canadian, had no desire to ever play for Montreal or the Nordiques no matter what the offer. They did not see any upside to putting themselves or the family through the media circus that it was, and this is before internet and media saturation. There are many players that love to play hockey and would just prefer to play without all the extra noise that comes with playing in some markets.

 

[Scintillating10]

That’s the entire point - those “names” 95% of the time end up in the same location - NYC or a US market w no / very low state tax

Between playing in a fish bowl, sky high taxes, and 6 months of brutal winter. Geez, I can't understand why they won't sign here?

 

[JianYang]

A few of the players I knew, some French Canadian, had no desire to ever play for Montreal or the Nordiques no matter what the offer. They did not see any upside to putting themselves or the family through the media circus that it was, and this is before internet and media saturation. There are many players that love to play hockey and would just prefer to play without all the extra noise that comes with playing in some markets.

Those are legitimate reasons for players to shy away. The canadiens not only get alot of scrutiny, but it's very "tabloidy" or tmz style particularly when it comes to big stars.

Most players don't want to put be put through the ringer when they have many non-invasive options elsewhere.

I keep beating this drum over and over but the tax argument falls apart when you consider guys lining up to sign in Manhattan where cost of living is highest. The difference is that most people in NYC don't know or care to know any Rangers so the players can blend with everyone else.

 

[JianYang]

A few of the players I knew, some French Canadian, had no desire to ever play for Montreal or the Nordiques no matter what the offer. They did not see any upside to putting themselves or the family through the media circus that it was, and this is before internet and media saturation. There are many players that love to play hockey and would just prefer to play without all the extra noise that comes with playing in some markets.

Those are legitimate reasons for players to shy away. The canadiens not only get alot of scrutiny, but it's very "tabloidy" or tmz style particularly when it comes to big stars.

Most players don't want to put be put through the ringer when they have many non-invasive options elsewhere.

I keep beating this drum over and over but the tax argument falls apart when you consider guys lining up to sign in Manhattan where cost of living is highest. The difference is that most people in NYC don't know or care to know any Rangers so the players can blend in like everyone else.

The whining over taxes has picked up most of its steam recently where lower cost jurisdictions have put together a string of cup wins. Funny nobody was talking about this when the Hawks and Kings reeled off 5 cups in 6 years.

Want to attract free agents? Do what all the other successful teams have done. Build through the draft to the point where external players can be convinced that they have a real shot at winning.

 

[Egresch]

Tax Calculator - Cardinal Point

Athlete Advisors

cardinalpointathleteadvisors.com

So, on 10M contract player loses apx. 1.6M vs team like Florida.