Private ruling: CGT - deceased estate
Date of advice: 27 September 2021
Published: December 2021
Ruling period: Year ending 30 June 20XX
Date scheme commenced: 1 July 20XX

Ruling: Q1: Will the Commissioner allow an extension of time to X April 20XX 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: You are the sole trustee and beneficiary of your parent's estate. Your parent died in mid-20XX. Your parent acquired the property before the introduction of CGT in Australia and has always used this property as the main residence. Your failing health contributed to the delays in selling this property. You were diagnosed with a serious health condition at around the date of your parent's death. You underwent surgery and took sick leave. Several years later you relapsed and over the subsequent months investigated various medical options. You also suffered delays due to the restrictions imposed by the Covid Pandemic which delayed your medical treatments and delayed efforts to sell the property. You signed a contract to sell the property in early 20XX and the property settled shortly thereafter.

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


This ruling applies for the following period: