I received a "Tax package" from my investment management firm for 2024 which includes a T5, T5008, & a Summary of Fees. May I claim the fees as a "Carrying charge"?
I received a "Tax package" from my investment management firm for 2024 which includes a T5, T5008, & a Summary of Fees. May I claim the fees as a "Carrying charge"?
A note on the document reads: "Total Amount Charged includes applicable GST/HST/QST. You should consult with your own independent tax advisor before taking any action based on the information provided (e.g., the deductibility of the above mentioned fees)."
I received a "Tax package" from my investment management firm for 2024 which includes a T5, T5008, & a Summary of Fees. May I claim the fees as a "Carrying charge"?
These fees can be claimed on your tax return on Line 22100—Carrying Charges and Interest Expenses. Eligible expenses may include legal fees for support payments, fees for preparing your income tax return and management fees for your investments if you qualify
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