Private ruling: Deceased estate - main residence exemption
Date of advice: 12 September 2018
Published: November 2018
Ruling period: Xx xx 20xx to xx xx 20xx
Date scheme commenced: Xx xx 20xx

Ruling: Q1: Will the Commissioner allow an extension of time to xx xx 20xx for you to dispose of your ownership interest in the dwelling at XX and disregard the capital gain or loss you make on the disposal? | A1: Yes. Having considered your circumstances and the relevant factors, the Commissioner will allow an extension of time to xx xx 20xx. Further information about this discretion can be found by searching 'QC 52250' on ato.gov.au

Relevant facts and circumstances: You inherited a dwelling, which was only used as a main residence by the deceased. Due to complex circumstances surrounding the ownership of the property, the dwelling was not put on the market within two years of the death of the deceased.

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