Line 19 - Other deductions from total income
Generally, you can deduct expenses if they were paid to earn income for the trust. Expenses include legal, accounting, and management fees. You can also deduct the fees paid for advice or assistance to file an objection or an appeal to an assessment or decision under the Act (although you have to reduce the claim by any award or reimbursement you received for such expenses).
Do not deduct the following:
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outlays and expenses that apply to the capital assets of the trust (see "Outlays and expenses" on page 37)
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personal expenses of the beneficiaries or trustees, such as funeral expenses or probate fees
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any amounts paid to beneficiaries
Note
Enter investment counsel fees paid (paragraph 20(1)(bb)) on line 14. For more information, see "Lines 13 to 17 - Carrying charges and interest expenses" on page 44.
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