“I think it comes down to Canada’s cost of living, Canada’s taxes,” says Barry, adding that from that standpoint, expensive markets like Toronto and Vancouver are at a particular disadvantage.
If the CRA successfully challenges ways that athletes have commonly used to reduce their tax obligation, even the appeal of playing for the team you used to dream of might carry a little less weight.
“It’s a significant enough difference that even if you wanted to play in Canada, when an agent, or financial advisor, or accountant points out how much the difference is in income, you might want to reconsider that decision,” says Raiola. “The stakes are high.”
WeBelieveIn4
Like we don’t have a tough enough time signing players already ffs
Karl_with_a_C
There should be tax exceptions for major league pro sports players. They are good for the economy and good for the city. Seems like a no-brainer to me.
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“I think it comes down to Canada’s cost of living, Canada’s taxes,” says Barry, adding that from that standpoint, expensive markets like Toronto and Vancouver are at a particular disadvantage.
If the CRA successfully challenges ways that athletes have commonly used to reduce their tax obligation, even the appeal of playing for the team you used to dream of might carry a little less weight.
“It’s a significant enough difference that even if you wanted to play in Canada, when an agent, or financial advisor, or accountant points out how much the difference is in income, you might want to reconsider that decision,” says Raiola. “The stakes are high.”
Like we don’t have a tough enough time signing players already ffs
There should be tax exceptions for major league pro sports players. They are good for the economy and good for the city. Seems like a no-brainer to me.