B.C. Tax Rate a Canuck competitive advantage

57 % of free agents who changed teams in off-season went to cities with better tax rates

A new report co-authored and released Monday by the Canadian Taxpayers Federation (CTF) and Americans for Tax Reform shows that Vancouver Canuck players paid $29.4 million in income tax last year – 44.8 per cent of their combined $65.7 million salaries.

The report, Home Ice Tax Disadvantage: How personal income taxes impact NHL players, teams and the salary cap, shows that 57 per cent of free agents who changed teams in the off-season went to cities with better tax rates. And all five new Vancouver Canucks saved money by hanging their helmets at Rogers Arena.

Here is the tax breakdown for several new Canucks:

Luca Sbisa saves $203,465 in taxes compared to Anaheim

Ryan Miller saves $169,656 in taxes compared to St. Louis

Derek Dorsett saves $82,299 in taxes compared to New York

Nick Bonino saves $26,915 in taxes compared to Anaheim

Radim Vrbata saves $14,342 in taxes compared to Arizona

“Taxes matter in a day and age where people can easily move,” said CTF B.C. Director Jordan Bateman. “It’s no coincidence that every new Canuck saved money in income tax by coming to Vancouver – it’s a key part of this market’s competitive advantage. And if it helps convince highly-skilled athletes to move here, you can bet it prompts doctors, engineers, CEOs, and other highly-mobile professionals to come here too. ”

Ryan Kesler may have boxed Canucks management in by demanding a trade to Anaheim, but fans can at least enjoy the fact that he’s paying for it at tax time – Kesler could pay $430,265 more in taxes this year by playing for Anaheim.

“That’s a steep cost to escape the glare of the Vancouver sports media,” said Bateman. “The Ducks may have pioneered the dreaded flying V, but its tax rate isn’t all it’s quacked up to be.”

Jason Garrison, meanwhile, got a bonus bump by agreeing to move to the Tampa Bay Lightning: he saves $269,368 in taxes this year.

 

 

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