Private ruling: Commissioner's discretion to extend 2 year period
Date of advice: 16 February 2022
Published: December 2022
Ruling period: Year ended 30 June 2022.
Date scheme commenced: 1 July 2021.

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 is able to apply his discretion for up to two hectares of land with your dwelling under subsection 118-195(1) of the ITAA 1997 and allow an extension of time.




The deceased acquired a dwelling. (The dwelling). | The deceased passed away in 20xx. (The deceased) | The dwelling is located on land less than 2 hectares in size. | You have attempted to organise family members to attend the dwelling to organise personal possessions and prepare the dwelling for sale. | COVID-19 has affected your ability to facilitate this due to travel restrictions and other lockdowns. You were at times only permitted to have 1 person in the dwelling at a time and this caused delays in removing bulky items. | You were able to prepare the dwelling for sale and engaged a preferred real estate to sell the dwelling. | You arranged a number of meetings with the real estate agent in xx 20xx and yy 20xx. You signed a contract for the engagement of the real estate agent a short time later. | You arranged to attend conveyancers office to sign the necessary paperwork to complete the sale. Unfortunately a lockdown was enforced during this period which caused some delays. | The dwelling was listed for sale by auction, these were being conducted virtually and you experienced some delays in obtaining a day to have the auction due to a backlog of auctions. You tried to get the dwelling listed for auction on xx 20xx and yy 20xx however these dates were not available. You obtained a date a short time later and the dwelling sold. | Settlement occurred after a period of time.