Private ruling: CGT - deceased estate
Date of advice: 11 September 2025
Published: 17 November 2025
Ruling period: Year ended DD MM 20YY
Date scheme commenced: DD MM 20YY

Ruling: Q1: Will the Commissioner allow the executor of the estate an extension of time under Section 118-195 of the ITAA (1997) to dispose of the ownership interest in the dwelling located at XX (the property) and disregard the capital gain or loss 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 ato.gov.au for 'QC 66057'.

Relevant facts and circumstances: The deceased passed away on DD MM 20YY. The dwelling is located at XX (the property). The deceased had a XX% interest in the property as tenant in common with the deceased's wife who held the remaining XX%. They had co-owned the property for over XX years. The deceased acquired their XX% interest before 20 September 1985. The property was the main residence of the deceased just before they passed away and was not used to produce assessable income at that time. The property was situated on less than two hectares of land. The deceased had a Will which was dated DD MM 20YY. The spouse of the deceased continued to reside in the property until they entered an aged care facility in 20YY. The spouse of the deceased passed away in 20YY. The probate was granted on DD MM 20YY. You entered into a contract to sell the property on DD MM 20YY with settlement scheduled to occur on DD MM 20YY.

Relevant legislative provisions: Income Tax Assessment Act 1997 section 118-145 | Income Tax Assessment Act 1997 section 118-195 | Income Tax Assessment Act 1997 section 149-10