Private ruling: Commissioner's discretion - extension of time on sale of dwelling
Date of advice: 3 November 2021
Published: January 2022
Ruling period: Year ended 30 June 20xx
Date scheme commenced: 1 July 20xx

Ruling: Q1: Will the Commissioner allow for an extension of the two-year rule under section 118-195 of the Income Tax Assessment Act 1997 on the sale of a property by the Administrator of the Estate? | 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: The sale of the deceased's main residence was delayed with the main cause being a legal dispute between the beneficiaries over the administration of the estate.

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