'Where's all the money?': Habs forward Pezzetta speaks out on tax rates

Montreal Canadiens left wing Michael Pezzetta (55) celebrates after scoring the winning goal against the Buffalo Sabres during a shootout of an NHL hockey game in Buffalo, N.Y., Monday, March 27, 2023. (Adrian Kraus/AP Photo)

He might be making one of the highest salaries around, but a professional hockey player was taking shots at his take-home pay this week.

When asked about taxes on Tuesday's Cam and Strick Podcast, Montreal Canadians forward Michael Pezzetta sounded off.

"I remember my first year [in the NHL]...you get that first paycheque and you're like, 'Oh my God, where's all the money?'" he chuckled.

In Pezzetta's first season in the National Hockey League in 2021-22, his annual salary was the league-minimum of USD $750,000, or roughly CAD $975,000.

Pezzetta would've been taxed at 50.8 per cent for the season, bringing his net pay down to CAD $480,068. After agent fees and escrow, his take-home pay would have just exceeded CAD $300,000.

He pocketed roughly CAD $18,000 every two weeks.

He's not complaining too much, though.

"It was still a crazy paycheque compared to what I was getting in the minors," he added, "but it was not as big of a difference as I thought."
 

He is not the only one surprised by Quebec and Canadian tax rates.

A poll conducted by Ipsos and the right-leaning economic think tank Montreal Economic Institute shows that seven in ten Canadians feel that their tax burden is too high.

The poll also reveals that roughly three-quarters of Canadians believe that taxes are too high for the quality of services they receive.

"Canadians are feeling like there's a lot more money being spent, but not a lot more value for our money," Brossard said.

In 2015/16, the federal budget was projected at CAD $296 billion. It has gradually increased, and now the Canadian government regularly spends over CAD $500 billion per year.

In that time, Canadians have actually seen their median tax rate stay put. The median incomes in Canada in 2015 and 2022 are both in the lowest tax bracket of 15 per cent.

Pezzetta might have a little less to complain about by next year -- he will earn USD $812,500 and is expected to net over CAD $500,000 before agent fees and escrow.