Peter was born in Toronto and his high school drama teacher sent him to audition for a new CBC television series. He won the leading role of Sydney Lowe in the popular war time series Home Fires from 1980 to 1983.
After wrapping up his role in Home Fires, Peter enrolled in York University's Film program but dropped out just four days later. He was then cast in two feature films back to back, Unfinished Business in 1984, directed by Don Owen, for which he received a Genie Award nomination for best supporting actor. He also starred in The Bay Boy in 1984, directed by Daniel Petrie, where he played the role of Kiefer Sutherland's on-screen big brother, and the film won the 1985 Genie award for Best Motion Picture.
In 1984, Peter moved to New York to study acting at the prestigious Circle in the Square theater school, sharing an apartment with Sutherland, Leah Pinsent, and Rus Blackwell.
The following year, Peter was offered the role of Cleveland in the feature film Crazy Moon and convinced Sutherland to join the project, reuniting them as screen brothers for the second time in as many years. He then followed Sutherland to Los Angeles and lived with him in his vacant townhouse/office in Marina Del Rey.
Peter landed the title role in the HBO after-school special The Truth About Alex in 1986, opposite Scott Baio. In the show, he played Alex Prager, a small-town, gay high school football all-star who is forced to come out after being attacked in a public washroom. The show was the first of its kind aimed at a young audience to tackle the issue of homosexuality and went on to win a Gemini award for Best Short Drama.
After The Truth About Alex, Peter returned to Toronto, appearing in several movies of the week and guest starring in various roles in episodic television. Today, he resides in Toronto with his wife and daughter.