Costanzo contacted her every day - “sometimes many times a day” - by telephone and by e-mail. Costanzo’s best friend” and that she was a professional dancer with no musical background. His friend testified in court that “she was Mr. The CRA allowed many of Costanzo’s business expenses, but the main issue in the trial was the tax man’s disallowance of “associate musician fees,” which ranged, as a percentage of the total business expenses claimed, from three per cent in 2011 to 58 per cent in 2010.Īt the trial, Costanzo explained that during the years under review he had been using the services of a “very good friend that he used to date in 19 and with whom he lived for a short period in 2003.” He testified he used her “as a sounding board when he needs a perspective as to what type of sound, beat or rhythm is hot or cool at any particular time.” This advertisement has not loaded yet, but your article continues below.
During the years under review, he operated a sole proprietorship business as a singer/musician and freelance talent searcher. (It lost to the Tragically Hip’s “Bobcaygeon.”)īut it appears Costanzo may have been “in too deep” when it came to his personal taxes, the Tax Court of Canada found in a decision released last month.Ĭostanzo was reassessed by the Canada Revenue Agency for the tax years 2008 through 2011 for claiming various business expenses on his tax returns. These catchy lyrics were penned by musician Marc Costanzo, one half of the brother-sister-led Toronto-based band Len, a one-hit wonder whose “Steal my Sunshine” single rose to the top of the charts in several countries in 1999 and was nominated for a Juno award in 2000. The next issue of Financial Post Top Stories will soon be in your inbox. If you don't see it, please check your junk folder.
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