Private ruling: Commissioner's discretion - inherited dwelling
Date of advice: 24 August 2021
Published: November 2021
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 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: Deceased purchased a property at x. The property was the deceased's main residence until their passing. The property sat vacant from when the deceased passed to the sale of the property. The property was listed property for sale with settlement occurring a few months after the expiry of the 2-year period for disposing of a deceased 's main residence. A major contributor to the delay in the executors selling the property was because the executors were unable to attend the property while COVID-19 travel restrictions were in place.

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


This ruling applies for the following period: