I transferred investments and was penalized Deferred Sales charges in the following, RRSP, TFSA, Non Register. Are any of these charges can be claimed as a deduction

[CalgarYYYYY]

There were no fees charged, just DSC costs which are substantial and I am hoping that at least the Non-registered DSC can be claimed as a deduction

[TurboTaxKim · Accepted solution]

As you probably already know, the fees related to your registered accounts (TFSA, RRSP) are not deductible in any way.

The DSC fees you have been charged on your "Non Registered" accounts can be used in the calculation of the ACB as described below to reduce the amount of any Capital Gains.

Commissions paid for the purchase or sale of securities are not deductible expenses for tax purposes. Instead, purchase commissions form part of the adjusted cost base (i.e. purchase price) of the investment and sales commissions reduce the proceeds on sale. As a result, these costs are taken into account in computing the capital gain or loss on the ultimate sale of the related securities and the related tax benefit of these commissions is therefore limited to one-half of the expense — the capital gains income inclusion rate. Mutual fund load fees (i.e. front end or deferred sales charges) are treated like purchase and sale commissions for tax purposes.