Private ruling: Commissioner's discretion to allow more time to dispose of a dwelling
Date of advice: 3 September 2021
Published: November 2021
Ruling period: 30 June 20XX
Date scheme commenced: 1 July 20XX

Ruling: Q1: Will the Commissioner allow an extension of time until XX/XX/20XX 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: Immediately after the deceased passed away, a challenge of the will occurred between the beneficiaries. The legal dispute took some time to resolve with Letters of Administration not being granted until XX/XX/20XX. The deceased's main residence was auctioned shortly afterwards on XX/XX/20XX with settlement taking place on XX/XX/20XX.

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


This ruling applies for the following period: