Private ruling: Deceased Estate – extension of time – deceased’s main residence
Date of advice: 10 September 2018
Published: November 2018
Ruling period: Year ended 30 June 20XX
Date scheme commenced: 1 July 20XX

Ruling: Q1: Will the Commissioner allow an extension of time to DD/MM/YYY 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 discretion can be found on our website ato.gov.au and entering Quick Code QC52250 into the search bar at the top right of the page.

Relevant facts and circumstances: The deceased acquired a dwelling (the property). The property was used as the deceased main residence from the date of acquisition until the time of his passing and no income was derived from it. The deceased resided in the property up until their date of death. The property’s land size is less than two hectares. There were delays with the administration of the estate. The delays were outside of your control. You did not dispose of the deceased’s main residence within two years of the date of death. The property has been sold and settlement occurred DD/MM/YYYY.

Relevant legislative provisions: Income Tax Assessment Act 1 997 subsection 118-195(1)