Mortgage Broker

Tax tips for independent mortgage brokers in Australia.

Allowable Expenses

• Aggregator Fees — Monthly fees paid to your aggregator.
• Professional Indemnity — Essential insurance for finance brokers.
• Software — CRM and loan processing tools.
• Marketing — Lead generation and local advertising.

Tax Tips

• ASIC licensing and professional body (MFAA/FBAA) fees are deductible.
• Travel to client homes or meeting sites is deductible.
• Claim for your mobile phone and home office.
• Trail commissions are assessable in the year received — track them carefully as they may arrive annually for the life of each loan, creating a multi-year assessable income stream that must be declared each year.

Frequently Asked Questions

Are my MFAA fees deductible?

Yes, professional association fees are deductible.

Can I claim for lead generation?

Yes, marketing costs for your business are deductible.

How do I treat trail commissions received from lenders — are they assessable in full?

Yes. Trail commissions are assessable income when received. You can claim a deduction for any expenses directly associated with generating or administering the trail book — such as aggregator fees, compliance costs, and a portion of CRM costs — but the gross commission is income before any deductions.

Is my ASIC Credit Representative number registration fee deductible?

Yes. ASIC fees and credit licence levies are deductible business expenses for mortgage brokers. These include your annual lodgement fee and any compliance service fees charged by your aggregator for maintaining your credit representative status.