Volleyball Canada Youth National Championships: 17U Boys Bronze
Watch the 17U boys bronze medal match from the Volleyball Canada Youth National Championships at the Edmonton EXPO Centre.
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Vancouver Sun
2 hours ago
- Vancouver Sun
After former Leafs and Blue Jays players, CRA now goes after ex-Raptors star Norman Powell
OTTAWA — On Feb. 4, 2022, former Toronto Raptors star guard Norman Powell received two pieces of news that would have a major impact on his life. The first was from his agent telling him that he was part of a blockbuster trade that sent him from the Portland Trail Blazers to the Los Angeles Clippers. The second was from the Canada Revenue Agency (CRA) claiming over $1.2 million in additional income tax on 'inducements' paid by the Raptors in 2019 and 2020 to attract the star two-way guard to the surging Toronto team. Powell, who was part of the Raptors' 2019 championship team, is now appealing the CRA's decision in the Tax Court of Canada. Start your day with a roundup of B.C.-focused news and opinion. By signing up you consent to receive the above newsletter from Postmedia Network Inc. A welcome email is on its way. If you don't see it, please check your junk folder. The next issue of Sunrise will soon be in your inbox. Please try again Interested in more newsletters? Browse here. Powell's faceoff with the tax agency is over the same issue as ex-Toronto Maple Leafs Patrick Marleau and John Tavares , namely that his nearly $7 million in signing inducements should be taxed at only 15 per cent and not at the top income tax bracket (over 50 per cent). A key question for the court to determine is if the inducement offered by the Raptors Powell's contract to entice him to Toronto fits the definition of an 'inducement' under the U.S.-Canada treaty that sets the tax rate at 15 per cent. Powell says yes, but the CRA says no. The case, like Marleau and Tavares', could have a significant impact on how Canadian professional sports teams use signing bonuses or salary inducements as a tax incentive to attract foreign athletes to Canada instead of lower-taxed American organizations. Powell's lawsuit argues that the millions in inducements he signed with the Raptors to attract him to Toronto are covered by provisions of a Canada-U.S. tax treaty which set the tax rate for an 'inducement to sign an agreement' at 15 per cent. 'The Toronto Raptors and the Appellant (Powell) both understood that the Inducement was a key component of the Appellant's decision to sign' with the Canadian team, reads the appeal. But, per Powell, the CRA disagreed. On Feb. 4, 2022, the agency issued notices of assessment to him for 2019 and 2020 that taxed his inducement payments at the ordinary federal and provincial income tax rates (likely over 50 per cent) instead of 15 per cent. 'The Toronto Raptors agreed to pay the Inducement to entice the Appellant 'to sign an agreement relating to the performance of' his services as an 'athlete',' Powell wrote, saying that CRA's arguing otherwise is 'to distort the legal and economic reality' of his contract with the Raptors. Powell objected to the CRA, which he says accepted his objections 'in full' on March 1, 2024. But then to Powell's surprise, six days later the CRA issued a reassessment that once again considered his inducements to be taxable at the full federal and provincial tax rates instead of 15 per cent. Even more confusing is that one year later, the CRA 'admitted and agreed' that the $7 million paid by the Raptors to Powell in 2019 and 2020 were in fact 'an inducement… to choose the Toronto Raptors' under the terms of his NBA contract, his lawsuit states. 'The CRA has admitted that the Inducement was paid to the Appellant as an inducement for him to choose the Toronto Raptors. This should conclude the analysis,' reads his appeal. In his lawsuit, Powell says the CRA made essentially the exact same arguments as they did in Tavares' and Marleau's cases without considering the differences between an NBA and NHL contract. His appeal suggests that CRA copied its findings in the Tavares and Marleau cases and applied them to Powell, who plays a different sport in a different league with different player contracts. 'The position adopted by the (CRA) has been shaped following an audit conducted on an NHL player who received an inducement as per the terms outlined in his employment agreement. Subsequently, the (CRA) improperly extended the conclusions drawn from this particular NHL case to the Appellant' without considering the specificities of his NBA contract, Powell argued. Both the CRA and Powell's counsel, Marie-France Dompierre, declined to comment as the case is ongoing. The tax agency has not filed a statement of defence in court. National Post has published a series of reports since 2024 detailing tax battles between former star players of Toronto's three largest professional sports teams and the CRA. Other than its fights with Powell, Tavares and Marleau, the CRA also battled ex-Maple Leaf Jake Muzzin over the tax rate imposed on his signing bonus in 2020. The CRA also launched battles in 2023 with ex-Toronto Blue Jays all-stars José Bautista, Josh Donaldson and Russell Martin over multimillion tax bills. Late last year, the Tax Court ruled in favour of Donaldson and Martin, arguing that the CRA's calculation of their income tax owing was 'faulty.' cnardi@ National Post Get more deep-dive National Post political coverage and analysis in your inbox with the Political Hack newsletter, where Ottawa bureau chief Stuart Thomson and political analyst Tasha Kheiriddin get at what's really going on behind the scenes on Parliament Hill every Wednesday and Friday, exclusively for subscribers. Sign up here . Our website is the place for the latest breaking news, exclusive scoops, longreads and provocative commentary. Please bookmark and sign up for our daily newsletter, Posted, here .
Calgary Herald
2 hours ago
- Calgary Herald
After former Leafs and Blue Jays players, CRA now goes after ex-Raptors star Norman Powell
OTTAWA — On Feb. 4, 2022, former Toronto Raptors star guard Norman Powell received two pieces of news that would have a major impact on his life. Article content The first was from his agent telling him that he was part of a blockbuster trade that sent him from the Portland Trail Blazers to the Los Angeles Clippers. Article content Article content The second was from the Canada Revenue Agency (CRA) claiming over $1.2 million in additional income tax on 'inducements' paid by the Raptors in 2019 and 2020 to attract the star two-way guard to the surging Toronto team. Article content Article content Powell, who was part of the Raptors' 2019 championship team, is now appealing the CRA's decision in the Tax Court of Canada. Article content Article content Powell's faceoff with the tax agency is over the same issue as ex-Toronto Maple Leafs Patrick Marleau and John Tavares, namely that his nearly $7 million in signing inducements should be taxed at only 15 per cent and not at the top income tax bracket (over 50 per cent). Article content A key question for the court to determine is if the inducement offered by the Raptors Powell's contract to entice him to Toronto fits the definition of an 'inducement' under the U.S.-Canada treaty that sets the tax rate at 15 per cent. Article content The case, like Marleau and Tavares', could have a significant impact on how Canadian professional sports teams use signing bonuses or salary inducements as a tax incentive to attract foreign athletes to Canada instead of lower-taxed American organizations. Article content Article content Powell's lawsuit argues that the millions in inducements he signed with the Raptors to attract him to Toronto are covered by provisions of a Canada-U.S. tax treaty which set the tax rate for an 'inducement to sign an agreement' at 15 per cent. Article content Article content 'The Toronto Raptors and the Appellant (Powell) both understood that the Inducement was a key component of the Appellant's decision to sign' with the Canadian team, reads the appeal. Article content But, per Powell, the CRA disagreed. On Feb. 4, 2022, the agency issued notices of assessment to him for 2019 and 2020 that taxed his inducement payments at the ordinary federal and provincial income tax rates (likely over 50 per cent) instead of 15 per cent. Article content 'The Toronto Raptors agreed to pay the Inducement to entice the Appellant 'to sign an agreement relating to the performance of' his services as an 'athlete',' Powell wrote, saying that CRA's arguing otherwise is 'to distort the legal and economic reality' of his contract with the Raptors.
National Post
2 hours ago
- National Post
After former Leafs and Blue Jays players, CRA now goes after ex-Raptors star Norman Powell
OTTAWA — On Feb. 4, 2022, former Toronto Raptors star guard Norman Powell received two pieces of news that would have a major impact on his life. Article content The first was from his agent telling him that he was part of a blockbuster trade that sent him from the Portland Trail Blazers to the Los Angeles Clippers. Article content The second was from the Canada Revenue Agency (CRA) claiming over $1.2 million in additional income tax on 'inducements' paid by the Raptors in 2019 and 2020 to attract the star two-way guard to the surging Toronto team. Article content Article content Powell, who was part of the Raptors' 2019 championship team, is now appealing the CRA's decision in the Tax Court of Canada. Article content Article content Powell's faceoff with the tax agency is over the same issue as ex-Toronto Maple Leafs Patrick Marleau and John Tavares, namely that his nearly $7 million in signing inducements should be taxed at only 15 per cent and not at the top income tax bracket (over 50 per cent). Article content A key question for the court to determine is if the inducement offered by the Raptors Powell's contract to entice him to Toronto fits the definition of an 'inducement' under the U.S.-Canada treaty that sets the tax rate at 15 per cent. Article content The case, like Marleau and Tavares', could have a significant impact on how Canadian professional sports teams use signing bonuses or salary inducements as a tax incentive to attract foreign athletes to Canada instead of lower-taxed American organizations. Article content Powell's lawsuit argues that the millions in inducements he signed with the Raptors to attract him to Toronto are covered by provisions of a Canada-U.S. tax treaty which set the tax rate for an 'inducement to sign an agreement' at 15 per cent. Article content Article content 'The Toronto Raptors and the Appellant (Powell) both understood that the Inducement was a key component of the Appellant's decision to sign' with the Canadian team, reads the appeal. Article content Article content But, per Powell, the CRA disagreed. On Feb. 4, 2022, the agency issued notices of assessment to him for 2019 and 2020 that taxed his inducement payments at the ordinary federal and provincial income tax rates (likely over 50 per cent) instead of 15 per cent. Article content 'The Toronto Raptors agreed to pay the Inducement to entice the Appellant 'to sign an agreement relating to the performance of' his services as an 'athlete',' Powell wrote, saying that CRA's arguing otherwise is 'to distort the legal and economic reality' of his contract with the Raptors. Article content Powell objected to the CRA, which he says accepted his objections 'in full' on March 1, 2024. Article content But then to Powell's surprise, six days later the CRA issued a reassessment that once again considered his inducements to be taxable at the full federal and provincial tax rates instead of 15 per cent.
