Gail is a director in a regional bank. As part of her directors duties, she has to review financial statements and other reports from the Chief Financial Officer prior to the banks board meetings. Gail has a degree in economics and has worked in banking for many years, however, since becoming a director she believes accounting knowledge would assist her carry out her duties. Gail incurred various costs in undertaking a Bachelor of Commerce in professional accountancy with the University of Southern Queensland. During the year ending 30 June 2021 Gail incurred the following costs related to the course:

HELP fees $2,600

Stationery $180

Textbooks $220

Expenses of travelling between her job and USQ where the course was being held $120

Required:

Discuss whether any amounts of expenditure incurred by Gail would be allowable as a deduction during the year ended 30 June 2021 under any section of the Income Tax Assessment Acts. Support your discussion with reference to legislation, case law and taxation rulings.