NHL players who sign with the Canucks can generally expect to see their tax burdens move out of the penalty box when they relocate to Vancouver, according to a new study.
The Canadian Taxpayers Federation (CTF) and Americans for Tax Reform released data November 17 showing the West Coast franchise ranks seventh in the league in terms of its tax burden on players.
Canucks players who suited up during the 2013-14 season paid 44.8% in taxes.
The Calgary Flames (38.1%) and Edmonton Oilers (38.3%) ranked first and second in the league, respectively. Meanwhile, Montreal placed dead last as its players paid a tax rate of 53.9% last season.
Canucks goalie Ryan Miller, the biggest signing of the off-season, will save $169,656 in taxes this year following his move to the West Coast from St. Louis, according to the report.
Radim Vrbata, who departed the Arizona Coyotes and signed with Vancouver to play on the Sedin twin’s line, is poised to save $14,342.
Winger Derek Dorsett’s move from the New York Rangers is likely to save him $82,299.
Defenceman Luca Sbisa will save $203,465 and centre Nick Bonino will save $26,915 following trades from the Anaheim Ducks.
And centre Ryan Kesler’s insistence on a trade from Vancouver will likely result in him paying an additional $430,265 in taxes to play for the Ducks.
“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,” the CTF’s B.C. chapter director, Jordan Bateman, said in a statement.
“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. ”
American teams such as Florida Panthers (40%) and Tampa Bay Lightning (40.1%) — both located in a jurisdiction where there’s no state income tax — managed to outdo Vancouver.
Winnipeg (45.7%), Toronto (48.3%) and Ottawa (48.3%) ranked in the middle in terms of both the league and Canadian cities.
