Yes, the ATO in it's guidance allows "traders" to treat brokerage as an expense, but non-traders cannot.
My opinion is that this is complete and utter rubbish. Logic and accounting conventions tell me that in both cases it is an expense.
However, notwithstanding that the ATO makes a mere suggestion (not a ruling) about how to handle brokerage, I am not about to spend all all my assets on a 10 year legal dispute with the ATO!
