Of course!
There are a couple of ways of doing it ... Rather than claim a separate deduction, I find it easier to record full COST of Share, INCLUDING brokerage. Then full receipt of sale MINUS brokerage. So the brokerage is just calculated as part of the process & not deducted separately. EG:
Purchase - Stock xyz: cost $10,020 (inc $20 brokerage)
Sale - Stock xyz: receipt $10,580 (minus $20 brokerage)
Profit/Loss - +$560.00
This is for private trading only ... In my Esuperfund SMSF, they do this ALL automatically for me.
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- can you claim tax deduction on brokerage fees?
Of course!There are a couple of ways of doing it ... Rather than...
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