Private ruling: Capital gains tax
Date of advice: 17 September 2020
Published: November 2020
Ruling period: Ruling end date 30 June 20XX
Date scheme commenced: 1 July 20XX

Ruling: Q1: Will the Commissioner allow an extension of time for you to dispose of your ownership interest in the dwelling and disregard the capital gain you make on the disposal? | A1: Yes. Having considered your circumstances and the relevant factors, the Commissioner will allow an extension of time. Further information about this discretion can be found by searching 'QC 52250' on ato.gov.au

Relevant facts and circumstances: The deceased passed away. The deceased left a will (the Will). The Will was granted probate. The Will appointed the executors and trustees of the estate. The will included a dwelling. Delays in finalising the Will were cases by: The Property was sold, and settlement has occurred.

Relevant legislative provisions: Income Tax Assessment Act 1997 subsection 118-195(1)


A claim on the Estate made by one of the beneficiaries which resulted in legal action. | Due to Covid-19, the stamp duty determination was delayed.