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Question

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?

Forum|Forum|3 years ago
March 30, 2023
1 reply
0 views

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.

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.