Private ruling: The Commissioner's discretion - deceased estate - dwelling
Date of advice: 19 November 2021
Published: February 2022
Ruling period: Year ended 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 or loss you made on the disposal? | A1: Yes. Having considered your circumstances and the relevant factors the Commissioner will allow an extension of time. Further information about the Commissioner's discretion can be found by searching 'QC 66057' on ato.gov.au

Relevant facts and circumstances: The deceased passed away on xx/xx/xxxx. The deceased left a will that provided to B a right to occupy the deceased's main residence for B's lifetime. It also stipulated that the executor was to employ a carer for B. The executor employed C as a live-in carer. B and C resided at the property until B passed away on xx/xx/xxxx. C was not able to vacate the property at that time due to COVID-19 lockdown restrictions which hampered their efforts to find alternative accommodation. Also at that time due to the pandemic the government placed restrictions on occupants being evicted from premises. C vacated the property on xx/xx/xxxx after the restrictions were eased. The property was inspected by real estate agents in xx/xxxx. A sale contract was signed on xx/xx/xxxx that stipulated a settlement date of xx/xx/xxxx. Settlement has taken place.

Relevant legislative provisions: Income Tax Assessment Act 1997 subsection 118-195(1) | Income Tax Assessment Act 1997 subsection 118-145(1)