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Hmmm, I would answer question 2 first. How does the cost become necessarily incurred in producing assessable income ? I will use an example...You attend a home show about renovations. Thats a capital expense. I would argue non-deductible if its about the reno. Sure reno = higher rents. But its...

Course And even if you do a course AFTER buying an IP.. s8-1 ITAA97 requires that the cost was incurred in production of assesable income or earning assessable income. There is a limb that excludes private and capital expenditure. The ATO might consider the course is unrelated to that IP and...