Private ruling: Capital gains tax - deceased estate two year discretion
Date of advice: 18 June 2019
Published: August 2019
Ruling period: Year ending 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 property was acquired prior to 1985. The deceased passed away. The property was the deceased's main residence and was not used to produce income. There were 3 executors appointed. The lead executor suffered health issues that prevented them from finalising the estate. The property settled.

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