Porter CEO battling CRA over tax bill from 'significant losses' from 'high-risk' pandemic trading
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OTTAWA — Porter Airlines' CEO is fighting the CRA over a six-figure tax bill linked to an unsuccessful incursion into 'high risk' trading in the early months of the COVID-19 pandemic that cost him over $5.7 million.
When the COVID-19 pandemic hit Canada in March 2020, Porter's top executive Michael Deluce saw opportunity. As economies suddenly shuttered and investors scrambled to grapple with the global pandemics, markets experienced some of the largest one-day swings in nearly four decades.
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