Do you have a “fee-based” non-registered investment account? This is the type of account where fees are not embedded or hidden in the Management Fees and usually offered to investors with more than $250k of investments. These advisory fees are tax deductible and can be reported as investment counseling fees in carrying charges on line 221 of your tax return.

You will find the fees if any, in the capital gains section of your December 31 statement. This only applies for non-registered accounts. Not for RRSP, RESP or TFSA.

Don’t forget to report your Capital Gains as well. If you see Capital Gains in the Tax reporting section of that December 31 statement, they need to be reported. They are in addition to any gains/losses showing on your Tslips.