As per the CRA, investment fees can be deducted if they qualify on the following points:
- They have been paid for advice connected to the buying or selling of a specific investment
- They cover the cost of administering or managing an investment owned by the person making the claim
- They are not a commission
- They relate to advice on investments made in non-registered accounts. The CRA will deny a deduction of fees related to registered accounts including RRSPs, RRIFs, RESPs and TFSAs. An investor cannot circumvent this rule by charging fees related to a registered account to a non-registered account.
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