After being reassessed for unreported investment income of $868 in 2006, the taxpayer requested her advisor at TD Waterhouse to ensure that she received the relevant T5 slips for 2007. In April 2008 the advisor's assistant confirmed by email that the T5 slips that the taxpayer had received for 2007 matched up with the amounts for her account when, in fact, approximately $20,000 of investment income was not included. Although the investment income included by the taxpayer in her 2007 return was 13% lower than for 2006, she testified that she had assumed this decrease was because of market performance. Webb J. found at para. 12 that the taxpayer had been duly diligent: it was reasonable in the circumstances for the taxpayer to assume that she had received all the slips, and thus had reported all her investment income.
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13% less investment income from last year was no reason to suspect advisor had made mistake
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"field_legacy_header": "<strong><em>Thompson v. The Queen</em></strong>, 2010 DTC 1259 [at 3815], 2010 TCC 381 (Informal Procedure) <strong>[13% less investment income from last year was no reason to suspect advisor had made mistake]</strong>",
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