Guide to claiming deductions

Interest and dividend deductions

The most common types of investments are owning shares and keeping accounts at financial institutions, such as banks and credit unions.

For more information on claiming deductions for other types of investments, refer to: Rental property expenses Investment - home.

You can claim a deduction if you are able to show that you incurred expenses earning interest or dividend income.

Your expenses might include:

• account-keeping fees for accounts held for investment purposes
• management fees and fees for investment advice relating to changes in the mix of your investments
• interest charged on money borrowed to purchase shares.

You cannot claim a deduction for expenses for a first home saver account or for receiving an exempt dividend or other exempt income.

For more information about completing your tax return, refer to: D7 - Interest deductions D8 - Dividend deductions.

Claiming deductions - home

Sections within Interest and dividend deductions

• Interest expenses
• Dividend and share expenses