Line 22100 - Carrying charges and interest expenses

Note: Line 22100 was line 221 before tax year 2019.

Claim the following carrying charges and interest you paid to earn income from investments:

  • fees to manage or take care of your investments (other than any fees you paid for services in connection with your pooled registered pension plan, registered retirement income fund, registered retirement savings plan, specified pension plan, and tax-free savings account)
  • fees for certain investment advice (see Interpretation Bulletin IT-238 Archived, Fees Paid to Investment Counsel) or for recording investment income
  • fees to have someone complete your return but only if you have income from a business or property, if accounting is a usual part of the operations of your business or property, and you did not use the amounts claimed to reduce the business or property income you reported (see Interpretation Bulletin IT-99 (Consolidated) Archived, Legal and Accounting Fees)
  • most interest you pay on money you borrow for investment purposes but generally only if you use it to try to earn investment income, including interest and dividends. However, if the only earnings your investment can produce are capital gains, you cannot claim the interest you paid 
  • legal fees you incurred relating to support payments that your current or former spouse or common-law partner, or the natural parent of your child, will have to pay to you


Legal fees you incurred to try to make child support payments non-taxable must be deducted on line 23200. For more information, see Guide P102, Support Payments.

Policy loan interest
To claim interest paid during the year on a policy loan made to earn income, ask your insurer to complete Form T2210, Verification of Policy Loan Interest by the Insurer.

Refund interest
If the CRA paid you interest on an income tax refund, report the interest in the year you receive it on line 12100 of your return. If the CRA then reassessed your return and you repaid any of the refund interest in 2020, you can claim, on line 22100 of your return, the amount you repaid up to the amount you had reported as income.

You cannot claim any of the following amounts on line 22100 of your return:

  • the interest you paid on money you borrowed to contribute to a registered retirement savings plan, a pooled registered pension plan, a specified pension plan, a registered education savings plan, a registered disability savings plan, or a tax-free savings account (TFSA)
  • safety deposit box charges
  • the interest part of your student loan repayments (although you may be able to claim a credit on line 31900 of your return for this amount)
  • subscription fees paid for financial newspapers, magazines, or newsletters
  • brokerage fees or commissions you paid when you bought or sold securities. Instead, use these costs when you calculate your capital gain or capital loss. For more information, see Guide T4037, Capital Gains, and Interpretation Bulletin IT-238 Archived, Fees Paid to Investment Counsel
  • legal fees you paid to get a separation or divorce, or to establish custody of, or visitation arrangements for a child

If you have a tax shelter, see Tax shelters.

Completing your tax return

Claim on line 22100 the total interest expenses and carrying charges.

If you have carrying charges for Canadian and foreign investment income, complete the chart for lines 12000, 12100, 12010 and 22100 on the Worksheet for the Return.

Supporting documents

Keep all your documents in case the CRA asks to see them later.

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