# Claiming brokerage costs as a share trader



## sphar1970 (1 October 2011)

Hi All,

From what I understand, brokerage is part of the cost base when calculating capital gains tax for end of financial year tax reporting purposes.

However if I am carrying on a business of share trading, is the brokerage deductible as a business expense?

Or is it simply part of the cost base and therefore not claimable regardless of if you are a share investor or share trader? 

http://www.ato.gov.au/businesses/content.aspx?doc=/content/21749.htm&page=1#H1)

Thanks in advance.

Steve


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## Wysiwyg (2 October 2011)

Some allowable deductions are brokerage & internet expenses if trading on-line & trading related literature.


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## Bigukraine (2 October 2011)

you can also claim km for obtaining info eg going to the library,reaserch, possible travel expences eg ; inspecting a mine or asset of the company (would have to have a reasonable share holding ) all in my opinion and consult your accountant......
eg; you can claim km's for inspection of a rental property etc etc and this is not fin advice and dyor....


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