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New fraud allegations surface for John Tavares: Millions in question

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Gabriel Sami
July 23, 2024  (8:21 PM)
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John Tavares is currently entangled in a dispute with the Canada Revenue Agency (CRA), which estimates that he owes millions in unpaid taxes.

The CRA asserts that Tavares reported $17.8 million more in surplus income than initially disclosed, resulting in a $6.8 million tax liability. Adding accrued interest of $1.2 million, Tavares's total debt to the Canadian government reaches $8 million.

The CRA says John Tavares owns more than $8M in tax and interest.

The Leafs captain disagrees.

The issue is how a commonly used provision in the U.S.-Canada tax treaty is interpreted�and the outcome could have serious implications for Canadian teams.

The $17.8 million discrepancy involves the $15.25 million signing bonus from the first year of his seven-year contract with the Leafs. This bonus, which was a major factor in Tavares's decision to join Toronto, is now at the heart of the issue.

The CRA has put a target on ways pro athletes navigate higher taxes north of the border.

My story on why John Tavares' $8M tax bill and tax court cases involving several former Blue Jays could have serious implications for Canadian teams and players

This situation highlights a growing concern for Canadian professional sports teams trying to attract high-profile players. The high tax rates in Canada compared to other North American regions could be a deterrent for potential stars. This is not the type of news Canadian sports fans want to hear.

Source: Hockey Patrol
Allegations of fraud re-emerge for John Tavares: millions at stake

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JUILLET 23   |   105 ANSWERS
New fraud allegations surface for John Tavares: Millions in question

Is the $8 Million Tax Bill justified for Tavares, or Is the CRA overstating the figures?

Yes5350.5 %
No5249.5 %
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