I am asking for a friend. She was advised by the Commonwealth Bank to purchase their shares. She has now lost $36k due to their advice. Is there any way that she can claim this on her tax.
There will be a capital loss, which can only be used against capital gains. If your friend has capital gains, then yes, can be used to reduce her tax. Otherwise any loss(once shares have been sold) will carry forward until there are sufficient gains in the future.
If not yet sold, and not needing the cash, might be worth holding onto for the dividends, and wait/hope the value returns over the next few years.