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New Member
posted Oct 30, 2019 10:01:44 AM

Can I claim management expense for my RIF and LIF that I get monthly payments from? I pay monthly payments from my bank checking account for management fees.

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1 Replies
New Member
Oct 30, 2019 10:01:46 AM

Management fees for Registered Accounts such as RIF or RRSP (including LIF) are not claimable as a deduction for tax purposes.

This from CRA;

Claim the following carrying charges and interest you paid to earn income from investments:

fees to manage or take care of your investments (other than any fees you paid for services in connection with your pooled registered pension plan, registered retirement income fund, registered retirement savings plan, specified pension plan, and tax-free savings account);