• For users coming over from tmlfans.ca your username will remain the same but you will need to use the password reset feature (check your spam folder) on the login page in order to set your password. If you encounter issues, email Rick couchmanrick@gmail.com

David Clarkson - Signs with Maple Leafs

Nik the Trik said:
mr grieves said:
But "...loves southern Ontario..." didn't really, you know, zing quite right.
Click to expand...

Except, of course, it didn't zing right because it doesn't make any sense at that point. I'm going to guess that David Clarkson hasn't actually given many interviews where he expressed his love for the vaguely defined geographic region that he's from but rather, you know, the city.

Besides, if you were from Toronto you might know that being alright with sticking it to the rest of the province is the surest sign that Clarkson really is one of us.
Click to expand...

Ha! Spent 6 years there during the best of the Quinn years. That involved some time around Niagra and out in Oshawa. Yes -- letting a few roads deteriorate to impassable might keep those types out the city, and that would probably be nice.
 
Signing bonuses also involve the time value of money. Even if Clarkson paid his taxes in Ontario, 27 million today would be better than 27 million over four years.
 
Gilmour the Great said:
Signing bonuses also involve the time value of money. Even if Clarkson paid his taxes in Ontario, 27 million today would be better than 27 million over four years.
Click to expand...

THat would be more true if he got all of the $27M today, but, that's not how it works either. He gets lump sum payments on July 1 of every year of his contract, so, it's really more about the value of between $3M and $5M (the signing bonus amount varies over the length of the contract) only July 1st as opposed to being spread out over the course of an NHL season. It does mean that he'll get a pay cheque in the summer instead of going from April to September without one.
 
Just as a side note because, you know, I'm nutty like that but does anyone actually know how this affects someone's tax rate? It just seems a little strange to me to be making this deal out of it without actually speaking to the specifics? If it were this huge tax savings you'd think it'd be virtually universal in the contracts of athletes for Canadian teams.
 
Nik the Trik said:
Just as a side note because, you know, I'm nutty like that but does anyone actually know how this affects someone's tax rate? It just seems a little strange to me to be making this deal out of it without actually speaking to the specifics? If it were this huge tax savings you'd think it'd be virtually universal in the contracts of athletes for Canadian teams.
Click to expand...

I'd agree with you.  Knowing enough about taxes to be dangerous, I'm not sure how lump sums are beneficial from a tax perspective.  I know that, having received lump sum retroactive salary, I get dinged at a higher tax rate.  Now, I'm sure there are reasons to take advantage of lump sum payments (like the time-value suggestion above), but I'm not sure taxes are one of them.
 
Nik the Trik said:
Just as a side note because, you know, I'm nutty like that but does anyone actually know how this affects someone's tax rate? It just seems a little strange to me to be making this deal out of it without actually speaking to the specifics? If it were this huge tax savings you'd think it'd be virtually universal in the contracts of athletes for Canadian teams.
Click to expand...

Maybe you should allow, just for a moment or two, that Richard Peddie knows a thing or two more about taxes than you do?
 
mr grieves said:
Maybe you should allow, just for a moment or two, that Richard Peddie knows a thing or two more about taxes than you do?
Click to expand...

Why? Richard Peddie isn't an accountant. He's a BComm grad. I, mean, I'm sure he has an accountant but so do I. Running a business doesn't automatically make you knowledgeable about the tax code because, again so do I. For the record this is the actual tweet of Peddie's that's relevant here

$27m of Clarkson's $36m contract is signing bonuses http://www.capgeek.com/player/780  Believe under Cdn tax regs that's tax effective
Click to expand...

So, you know, very close on your part.
 
Champ Kind said:
Nik the Trik said:
Just as a side note because, you know, I'm nutty like that but does anyone actually know how this affects someone's tax rate? It just seems a little strange to me to be making this deal out of it without actually speaking to the specifics? If it were this huge tax savings you'd think it'd be virtually universal in the contracts of athletes for Canadian teams.
Click to expand...

I'd agree with you.  Knowing enough about taxes to be dangerous, I'm not sure how lump sums are beneficial from a tax perspective.  I know that, having received lump sum retroactive salary, I get dinged at a higher tax rate.  Now, I'm sure there are reasons to take advantage of lump sum payments (like the time-value suggestion above), but I'm not sure taxes are one of them.
Click to expand...

Canadian taxation is generally based on residency, while American taxation is more based on nationality, tax treaties notwithstanding. I'm not an expert, but maybe these bonuses matter most to Canadian players moving from American to Canadian teams. If they are able to live most of the calendar year in which they received their money in the US, it might give them a tax break. I have no idea if that's actually the case.
 
Gilmour the Great said:
Canadian taxation is generally based on residency, while American taxation is more based on nationality, tax treaties notwithstanding. I'm not an expert, but maybe these bonuses matter most to Canadian players moving from American to Canadian teams. If they are able to live most of the calendar year in which they received their money in the US, it might give them a tax break. I have no idea if that's actually the case.
Click to expand...

Another thing that springs to mind is that I know a lot of places have changed their laws of late so that if an athletic competition or entertainment event takes place within a certain state or province the participating entertainers in question have to pay taxes on what they're paid to that state or province rather than the one they might live/work in. Making the payment as a lump sum might, if that is the case, cut down on a lot of the complications in figuring out who he should be paying taxes to.
 
You know when the hockey talk has gotten to this that's its time to get away for a while. Camping time!!
 
I'm still not a fan of the signing, but I get why they did it.

Yeah they paid a premium, but Clarkson makes the Leafs a lot tougher to play against. His brand of hockey is what the Leafs have associated their identity with.

I'm guessing what they have in mind for the top 6 is

JVR-Bozak-Kessel
Lupul-Kadri-Clarkson

As much as I like Grabovski, the issue was fitting a square peg in a round hole.
 
Prime time sports was hilarious at 4pm. McCowan was ripping Clarkson and the more it went on the more you find out that he doesn't know a thing about Clarkson.

My favorite moment was someone saying 'he's scored 30 goals' and then silence.

Anyway I just found it funny how he did not research at all.
 
BlueWhiteBlood said:
Does Bob not even watch the NHL? Strange..
Click to expand...

When it comes to hockey, he's pretty much completely clueless. He has, in the past, all but admitted such, but, he doesn't seem to care anymore, and it's a big part of the reason why I can't listen to his show. When it comes to hockey, he's really just a loudmouth with poorly informed opinions . . . so, basically, he's like most of HFBoards.
 
bustaheims said:
BlueWhiteBlood said:
Does Bob not even watch the NHL? Strange..
Click to expand...

When it comes to hockey, he's pretty much completely clueless. He has, in the past, all but admitted such, but, he doesn't seem to care anymore, and it's a big part of the reason why I can't listen to his show. When it comes to hockey, he's really just a loudmouth with poorly informed opinions . . . so, basically, he's like most of HFBoards.
Click to expand...

;D It's clear how he feels about what's left of his audience. Just funny that he would go on any kind of rant about anything hockey, after admitting such. I'm sure even his peers don't take him serious on the topic.
 
I like Bob for baseball, boxing, and apart from the awesome was he handled ex-Raptor GM Rob Babcock, that might be it.
 
I like this signing, it make us even tougher. this off season has been great. I like all the moves, mind you I did like Grabbo, but his time with us was done the min he signed that 5.5mil contract. we added what we needed and, I will still stand by my word and say we already have that #1 center, he is close watch and see. our system will feed us what we need just look at that list of players coming. ;D
 
nutman said:
I like this signing, it make us even tougher. this off season has been great. I like all the moves, mind you I did like Grabbo, but his time with us was done the min he signed that 5.5mil contract. we added what we needed and, I will still stand by my word and say we already have that #1 center, he is close watch and see. our system will feed us what we need just look at that list of players coming. ;D
Click to expand...

:)
 
You must log in or register to reply here.

About Us

This website is NOT associated with the Toronto Maple Leafs or the NHL.


It is operated by Rick Couchman and Jeff Lewis.
Back
Top