Everyone's circumstance is different. As an example hobbyists who stay under the ATO thresholds in whatever they do may like to stay that way so as to avoid CGT, GTS, BAS statements and all that crap. Be careful about what you ask for.
What you actually invest in be it dividend stocks, non dividend stocks, managed funds, real estate, pork bellies or collectables is irrelevant. What is relevant is getting the ATO on side.
I don't know the answer to your very relevant question. I don't know if keeping a diary log of your on-line investment research activities would be enough to convince the Commissioner. Perhaps you should contact the ATO directly and ask for someone who might know.
I do know that equity and fairness have nothing to do with the answer you get. You are either within an ATO accepted threshold or outside it.
One extra thing. I suspect you are looking for deductions against income rather than cost base increments. Ask an ATO advisor.
