Who can claim
This deduction is available to individuals.
- The advice is ongoing or recurrent and services existing investments that produce assessable income.
What you cannot claim
- Advice to acquire a new investment, set up an investment strategy or put an investment structure in place is capital in nature and not deductible under the general rule.
- Advice partly related to private matters or non-income-producing investments must be apportioned.
How the amount is worked out
Claim the portion of recurring advice costs connected with existing assessable-income investments.
Records the ATO expects
- Detailed adviser invoice
- Portfolio and income connection
- Apportionment basis
Where this rule comes from
Primary source: ATO TD 2024/7 financial advice fees (TD 2024/7). Reviewed 30 July 2026. Covers the 2025-26 and 2026-27 income years.