Private ruling: Commissioner's discretion to extend the two year period
Date of advice: 17 October 2019
Published: January 2020
Ruling period: Year ended 30 June 2019
Date scheme commenced: 1 July 2018

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 deceased passed away on XX March 20XX. The deceased left a property in their estate. The deceased had acquired the property after 20 September 1985. The property was their main residence at time of death and it was not used to produce assessable income. The deceased used the property as their main residence for the entire ownership period. Probate was not granted until XX July 20XX due to administration issues. The date of sale was XX January 20XX The date of settlement was XX February 20XX.

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