Précis: At trial Justice Bocock dismissed the taxpayer’s appeal both on the issue of rental losses and expenses from a financial consulting business. That decision was sustained in the Federal Court of Appeal on the issue of rental losses but reversed on the consulting business and remitted back to the Tax Court for a determination of the reasonableness of the expenses claimed. Justice Bocock made that determination on the basis of the trial record and additional submissions of the parties. He allowed somewhat less than half of the amounts at issue. Costs were awarded to Mr. Peach on the informal procedure Tariff, subject to the right of the parties to make further submissions within 30 days.
Peach v. R. - TCC: Taxpayer allowed modest business expenses upon reconsideration after FCA appealPlus >