OPINION: John Tavares’ battle with CRA underscores Canada’s tax competitiveness problem
Toronto Maple Leafs forward John Tavares recently took the witness stand in his court battle with the Canada Revenue Agency (CRA) over an alleged $8 million in taxes he supposedly owes on the signing bonus that helped entice him to leave the New York Islanders and sign with Toronto in 2018.
The case rests largely on whether the bonus was an “inducement” (which would be largely taxed in New York and subject to a maximum Canadian tax rate of 15 per cent ) or employment income (which would be fully taxable in Ontario at rates exceeding 50 per cent).
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