Who’s laughing now?

That 12 -day joyride Cirque de Soleil founder Guy Laliberte took to the International Space Station in 2009 has come back to bite him. Laliberte had claimed the entire $41.8 Million costs of the trip as a business expense. When Revenue Canada got around to reviewing the return in 2014 they disallowed the deduction, saying the trip was strictly personal. Laliberte took the matter to the Federal Court of Appeal who rejected his appeal 3-0. The good news for Laliberte is that he had already paid the tax. He has sold all of his shares in Cirque de Soleil and is listed as Canada’s 11th richest person.