Certain investment-related costs, as well as some interest costs, may be claimed as a tax deduction on your return.
Case by case!
- If you have a non-registered investment portfolio for which you have to pay fees, you can deduct these fees.
- On the other hand, fees paid for investment funds whose management expense ratio (MER) is paid out of the fund are not deductible.
- If you borrow money for investment purposes, the interest you pay on this loan will be deductible from the income generated by your investment. For example, interest paid on a mortgage loan used to purchase an income property will be deductible from the rental income earned.