Précis: Mr. Peck claimed a business loss of $342,682.13 in 2009 which he used to reduce his 2009 income to nil and carried the balance back to 2008, 2007 and 2006. CRA denied the losses and imposed a gross negligence penalty of $52,852.98. This was a Fiscal Arbitrators case. Mr. Peck sought to vacate the penalty. The Court dismissed the appeal with costs holding that Mr. Peck met the standard of gross negligence.
Peck v. R. – TCC: Gross negligence penalties upheld in another Fiscal Arbitrators caseREAD MORE »