20(1)(e) Expenses of issueing shares, borrowing money, life insu

Q: Can I deduct expenses incurred for issuing securities or borrowing money for running business or earn property income.A: Yes, but on a straight line basis of 5 years, generally speaking. They include legal, accounting and printing fees, commissions, service or bonus paid to salesman, agent or dealer.some variations - if there is shorter taxation year, amount must be prorated for less deduction.if amount repaid during the year (not part of refinancing), remaining balance can be deducted fullySome fees can be deducted fully in the year they are incurred including:1. standby charge2. guarantee fees3. registrar fee4. transfer agent fee5. filing fee6. service feeand any similar feeIf life insurance is required by the a 'restrictd financial institution' as a lender, the premiums on it can be deducted. Actual deduction amount may be adjusted by rules applicable.