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Level 1
posted Mar 30, 2023 6:11:55 AM

Are transfer fees for non-registered accounts tax deductible in Canada? As in if your brokerage charges for a DRS transfer fee, can you deduct that?

Speaking about NON-registered accounts. My brokerage wants to charge $300 for a DRS transfer of shares but I want to know ahead of time if this is tax deductible.

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1 Replies
Moderator
Apr 5, 2023 5:42:34 PM

No. You can't claim brokerage fees or commissions as investment expenses. Instead, use these costs when you calculate your capital gain or capital loss.