Question:

Tax return: Is it possible to claim a deduction for financial advice?

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I paid a sum of money to an Australian company to receive financial advice (mainly CFD trade suggestions). Am I able to claim the the total cost on my tax return?

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2 ANSWERS


  1. For personal investing - sorry, no..


  2. Yes, you can if the financial advise is taken for the particular business for which you are submitting the return. Financial advise taken by you from the Australian company is the expense made for the goodness of your business. hence, it will be claimed.

    You must consider the total percentage of expenses claimed in the return. If you will cross this limit than you are not allowed. To know the limit you must need to specify the type of business you are performing.

    Hope you are satisfied with my answer, select me as the best answer.

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