Private ruling: 2 year extension - Commissioners discretion
Date of advice: 9 August 2019
Published: October 2019
Ruling period: Period ending 30 June 2018
Date scheme commenced: 1 July 2017

Ruling: Q1: Will the Commissioner exercise his discretion under subsection 118-195(1) of the Income Tax Assessment Act 1997 (ITAA 1997) and allow an extension of time until 21 December 2017? | A1: Yes The Commissioner will exercise his discretion under subsection 118-195(1) of the Income Tax Assessment Act 1997 (ITAA 1997) and allow an extension of time until 21 December 2017.

Relevant facts and circumstances: The deceased purchased a property in 19XX. The deceased passed away on 20XX. Probate was granted to the executor 20XX. The property was left in the will to two siblings as tenants in common. The property was the sole material asset of the Deceased Estate. The deceased's' other siblings resided in the property and had done so since the purchase of the property. There was no provision made for them in the will. There was an agreement made between the beneficiaries and the other siblings about the property. Settlement date for the transfer of the property was made just over 2 years from the date of death. Factors contributing to extending beyond the 2 year period are: the executors' understanding of the English language and therefore their responsibilities as executor. A family illness that inhibited the ability of the spouse assisting with the responsibilities. A delay in travelling overseas to discuss issues with the other beneficiary.

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