Time for a tax tip.

If you've got an income tax form handy take a look at line number 221 in the Net Income section.  It's the line marked "Carrying charges and interest expenses (attach a completed Schedule 4)"  This refers to service charges for any type of investment where your intent is to earn money.  I'll bet most people overlook this line because they don't have any investments, or they're all in RRSP's in which case this won't apply.

But, how many people have a simple savings account at a bank.  Even better, a chequing account that still earns you a piddly amount of interest.  As long as there is intent to earn interest, all those various service charges can be deducted from your total income on line 221 of your income tax form.  According to the guide, you don't have to send any receipts, but should keep them in case they ever want to confirm things - which means keeping your bank statements.

It may only save you a few bucks every year, but when it comes to taxes, every penny counts.

...thanks to the guys at Pine Falls for pointing this out to me!