F Tij Iginla - Kelowna Rockets, WHL (2024 NHL Draft)

[GermanSpitfire]

Tij Iginla at eliteprospects.com


Jarome Iginla’s son; looks to be a notable prospect for the 2024 NHL draft. No idea where he’ll play this season.

WHL Rights: Seattle Thunderbirds
WHL Draft: Seattle Thunders (R1, 2021, #9 Overall)

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[93LEAFS]

Surprised Jarome settled in Boston, not knocking Boston or anything, just interesting he settled in a place he only played for a year, and he's lived most of his life close to the Rockies.

 

[SenzZen]

Would love to see him make it. Long way to go, though.

 

[InfinityIggy]

Neat.

 

[WTFMAN99]

Surprised Jarome settled in Boston, not knocking Boston or anything, just interesting he settled in a place he only played for a year, and he's lived most of his life close to the Rockies.

This still makes me laugh, probably enjoys being more anonymous than celebrity in Canada.

 

[Khrox]

Surprised Jarome settled in Boston, not knocking Boston or anything, just interesting he settled in a place he only played for a year, and he's lived most of his life close to the Rockies.

He still spends a lot of time in Calgary as well. He's seen somewhat regularly up here. Not full time, but probably 2-3 months of the year he's still around, not counting special events the Flames have him show up to.

 

[covfefe]

Surprised Jarome settled in Boston, not knocking Boston or anything, just interesting he settled in a place he only played for a year, and he's lived most of his life close to the Rockies.

There's something in Canada called an RCA (retirement compensation agreement) which allows players to defer their tax obligations on up to 50% of what they are earning in a given year. Half goes into a refundable tax account and the other half goes into a self-directed account. The outcome of this is that they pay 50% of their tax obligation, per year, on half of their earnings - while the other 50% is held and invested in that self-directed account.

The reason I bring this up is the major caveat with the RCA: upon redemption, they need to break all their ties with Canada for a minimum of 18-24 months. They then pay a flat 25% tax on those self-directed, deferred-tax earnings (which have been growing, tax free, for x amount of years), and after that term are able to repatriate/repurchase their real estate/small businesses, etc. I know for a fact that Iginla still "owns" two lakefront properties nearby me in the Okanagan, but the title is held in his parent's names. I see him at my course quite a bit in the summer.

Anyway, the baseline assumptions in an RCA point right to why he'd settle in Boston.

Alan Walsh went into detail on this on Chiclets a while back:



Savvy tax planning man - big boon for the wealthy. The napkin math on this is outrageous and I can run it in a bit, but it's a truly enormous cost savings over the course of his career - many sheets worth.

 

[JFHockey]

Surprised Jarome settled in Boston, not knocking Boston or anything, just interesting he settled in a place he only played for a year, and he's lived most of his life close to the Rockies.

Probably did for his kids: would you rather live in Calgary where your Dad is one of the most famous people within the city, or just be another rich kid in one of the great american cities? Easy choice there.

 

[ottawa]

Wonder if he has any relation to Jarome Iginla

 

[Fonzieleaf]

Wonder if he has any relation to Jarome Iginla

His son

 

[LeafChief]

There's something in Canada called an RCA (retirement compensation agreement) which allows players to defer their tax obligations on up to 50% of what they are earning in a given year. Half goes into a refundable tax account and the other half goes into a self-directed account. The outcome of this is that they pay 50% of their tax obligation, per year, on half of their earnings - while the other 50% is held and invested in that self-directed account.

The reason I bring this up is the major caveat with the RCA: upon redemption, they need to break all their ties with Canada for a minimum of 18-24 months. They then pay a flat 25% tax on those self-directed, deferred-tax earnings (which have been growing, tax free, for x amount of years), and after that term are able to repatriate/repurchase their real estate/small businesses, etc. I know for a fact that Iginla still "owns" two lakefront properties nearby me in the Okanagan, but the title is held in his parent's names. I see him at my course quite a bit in the summer.

Anyway, the baseline assumptions in an RCA point right to why he'd settle in Boston.

Alan Walsh went into detail on this on Chiclets a while back:



Savvy tax planning man - big boon for the wealthy. The napkin math on this is outrageous and I can run it in a bit, but it's a truly enormous cost savings over the course of his career - many sheets worth.

This is a great post. Very insightful. Thanks for sharing.

 

[King In The North]

Alright, I am officially old. Iginla was the reason I started watching hockey in the first place.

 

[bigdog16]

There's something in Canada called an RCA (retirement compensation agreement) which allows players to defer their tax obligations on up to 50% of what they are earning in a given year. Half goes into a refundable tax account and the other half goes into a self-directed account. The outcome of this is that they pay 50% of their tax obligation, per year, on half of their earnings - while the other 50% is held and invested in that self-directed account.

The reason I bring this up is the major caveat with the RCA: upon redemption, they need to break all their ties with Canada for a minimum of 18-24 months. They then pay a flat 25% tax on those self-directed, deferred-tax earnings (which have been growing, tax free, for x amount of years), and after that term are able to repatriate/repurchase their real estate/small businesses, etc. I know for a fact that Iginla still "owns" two lakefront properties nearby me in the Okanagan, but the title is held in his parent's names. I see him at my course quite a bit in the summer.

Anyway, the baseline assumptions in an RCA point right to why he'd settle in Boston.

Alan Walsh went into detail on this on Chiclets a while back:



Savvy tax planning man - big boon for the wealthy. The napkin math on this is outrageous and I can run it in a bit, but it's a truly enormous cost savings over the course of his career - many sheets worth.

This is great stuff. Thanks for the insight. Pretty self explanatory why hes in Boston now

 

[Smitty93]

Just as a note on this, but Jarome's not in Boston any more. He just moved to Kelowna to be the head coach at a hockey academy. I know part of the reason the family stayed in Boston beyond his one year with the Bruins, instead of moving to Colorado, was that he really liked the school his kids went to (Dexter Southfield).

 

[GermanSpitfire]

Just as a note on this, but Jarome's not in Boston any more. He just moved to Kelowna to be the head coach at a hockey academy. I know part of the reason the family stayed in Boston beyond his one year with the Bruins, instead of moving to Colorado, was that he really liked the school his kids went to (Dexter Southfield).

So does that mean he is able to play in the WHL then?
Since he lived in Boston during the Bantam WHL draft he wasn’t eligible to be selected since he would have been eligible for the QMJHL draft this year; right?

 

[93LEAFS]

There's something in Canada called an RCA (retirement compensation agreement) which allows players to defer their tax obligations on up to 50% of what they are earning in a given year. Half goes into a refundable tax account and the other half goes into a self-directed account. The outcome of this is that they pay 50% of their tax obligation, per year, on half of their earnings - while the other 50% is held and invested in that self-directed account.

The reason I bring this up is the major caveat with the RCA: upon redemption, they need to break all their ties with Canada for a minimum of 18-24 months. They then pay a flat 25% tax on those self-directed, deferred-tax earnings (which have been growing, tax free, for x amount of years), and after that term are able to repatriate/repurchase their real estate/small businesses, etc. I know for a fact that Iginla still "owns" two lakefront properties nearby me in the Okanagan, but the title is held in his parent's names. I see him at my course quite a bit in the summer.

Anyway, the baseline assumptions in an RCA point right to why he'd settle in Boston.

Alan Walsh went into detail on this on Chiclets a while back:



Savvy tax planning man - big boon for the wealthy. The napkin math on this is outrageous and I can run it in a bit, but it's a truly enormous cost savings over the course of his career - many sheets worth.

Predator?

Thanks for the insight. Yeah, I always knew that a ton of the Western Canadian players flock to Kelowna for the summer. Similar to how many Ontario-born players flock to Muskoka every summer.

 

[93LEAFS]

So does that mean he is able to play in the WHL then?
Since he lived in Boston during the Bantam WHL draft he wasn’t eligible to be selected since he would have been eligible for the QMJHL draft this year; right?

I don't believe they would have moved long enough to be eligible. But, I don't know the exact repatriation rules for the CHL are. I think the entire family has to move and it has to be 2 years prior to the draft. I believe a couple of kids who moved to Toronto to play their final GTHL year for one of the big programs there didn't change eligibility.

 

[covfefe]

Predator?

Thanks for the insight. Yeah, I always knew that a ton of the Western Canadian players flock to Kelowna for the summer. Similar to how many Ontario-born players flock to Muskoka every summer.

Yep - Predator. He usually plays here with Kobasew and Ference. Whenever you see a young guy out on the course here with some rocket launcher, safe to assume he’s an NHL’er.

Side note: Ference almost killed me in his M6 a couple years ago on one of blind corners leading to the course. He gave me a couple bottles of wine as a peace offering and we chat whenever I see him. Nice guys all around.

 

[Twine Tickler]

The world needs more Iginla. I am a Leafs fan, but this guy is a Canadian legend IMO. Assist on the golden goal. True warrior. They don't make players like Iggy anymore. We can only hope that Tij plays like his dad, but those are big boots to fill.

 

[BrannigansLaw]

Tij Iginla at eliteprospects.com


Jarome Iginla’s son; looks to be a notable prospect for the 2024 NHL draft. No idea where he’ll play this season.

Loved Iginla’s power forward game when he was in his prime in the early 2000s. Does his son play the same style?

 

[Trojans86]

There's something in Canada called an RCA (retirement compensation agreement) which allows players to defer their tax obligations on up to 50% of what they are earning in a given year. Half goes into a refundable tax account and the other half goes into a self-directed account. The outcome of this is that they pay 50% of their tax obligation, per year, on half of their earnings - while the other 50% is held and invested in that self-directed account.

The reason I bring this up is the major caveat with the RCA: upon redemption, they need to break all their ties with Canada for a minimum of 18-24 months. They then pay a flat 25% tax on those self-directed, deferred-tax earnings (which have been growing, tax free, for x amount of years), and after that term are able to repatriate/repurchase their real estate/small businesses, etc. I know for a fact that Iginla still "owns" two lakefront properties nearby me in the Okanagan, but the title is held in his parent's names. I see him at my course quite a bit in the summer.

Anyway, the baseline assumptions in an RCA point right to why he'd settle in Boston.

Alan Walsh went into detail on this on Chiclets a while back:



Savvy tax planning man - big boon for the wealthy. The napkin math on this is outrageous and I can run it in a bit, but it's a truly enormous cost savings over the course of his career - many sheets worth.

I have a good friend in hr that put this into play at one of the biggest mutual fund companies in the world.

 

[AvsGuy]

I just wanna know if his middle name can compete with Arthur-Leigh Adekunle Tig Junior Elvis

 

[covfefe]

I have a good friend in hr that put this into play at one of the biggest mutual fund companies in the world.

For sure. It's not solely applicable to athletes - any high-income earner would likely benefit from an RCA. Mainly because the 50% refundable rate on half the cash is still lower than the top marginal tax rate in a number of provinces (namely, the two where a lot of high earners are concentrated - Ontario and BC).

Also, a DBP RCA allows for a degree of "retention certainty" from the employer's perspective, as you need to stay on board for a certain amount of time (not sure off the top of my head) before the RCA vests.

I misspoke in my first post though - it's an 'arrangement' - not an 'agreement.' Just getting out in front of the semantics police.

Anyway - back to Tij. Great name. Hope to hear more about him in the coming years.

 

[Trojans86]

For sure. It's not solely applicable to athletes - any high-income earner would likely benefit from an RCA. Mainly because the 50% refundable rate on half the cash is still lower than the top marginal tax rate in a number of provinces (namely, the two where a lot of high earners are concentrated - Ontario and BC).

Also, a DBP RCA allows for a degree of "retention certainty" from the employer's perspective, as you need to stay on board for a certain amount of time (not sure off the top of my head) before the RCA vests.

I misspoke in my first post though - it's an 'arrangement' - not an 'agreement.' Just getting out in front of the semantics police.

Anyway - back to Tij. Great name. Hope to hear more about him in the coming years.

It basically comes down to state taxes. We are in ca and some of the managers have deferred over a billion and will just claim in a tax free state to avoid ca taxes.

 

[Cap'n Flavour]

Wonder if he has any relation to Jarome Iginla

Is this a weak joke or did you seriously not read the first sentence of the first post before replying?