Major update in Maple Leafs captain John Tavares' $15M dollar legal battle
There's been a major update in the Toronto Maple Leafs' captain John Tavares and his $15M dollar legal battle against the Canadian government.
The Canada Revenue Agency is disputing Tavares' claim that he made back in January concerning a $15.25 million USD bonus he received from the Leafs in 2018.
The captain stated that his bonus was taxed as a salary revenu, but should've been considered like any bonuses paid to athletes, which comes with a lower rate of 15%.
If he loses, Tavares could end up paying an $8 million difference to the Canadian government.
In a new development, we learned that the CRA denies it was a signing bonus, and wants Tavares to pay taxes for his whole income.
It adds, «the amount of USD $70,890,000 was not paid to [Tavares] as consideration for entering into, or as an inducement to sign, the Contract.»
«The 2018 Amount was salary, wages or other remuneration received by [Tavares] in the 2018 taxation year when he was a resident of Canada,» the response to the appeal says. «Accordingly, the entire 2018 Amount is to be included in [his] income.»"
Even if Tavares earned around $95,141,463 million in his career, it remains an $8 million difference, which is important enough to fight for it.
Do you think John Tavares can still win his 15M dollar legal battle?
Source: City News - CRA disputing Leaf captain's claim that $15.25M paid in 2018 was signing bonus that should be taxed at lower rate
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Do you think John Tavares can still win his 15M dollar legal battle? | ||
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