Private ruling: Capital gains tax
Date of advice: 3 October 2018
Published: November 2018
Ruling period: Year ending 30 June 20XX
Date scheme commenced: 1 July 20XX

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

Relevant facts and circumstances: The deceased passed away on XX/XX/XXXX. They owned a property that was their main residence until their date of death. There was a delay in the granting of probate caused by the solicitors who were initially engaged to seek probate. New solicitors were appointed and probate was granted on XX/XX/XXXX. After the grant of probate, the property was placed on the market. The property was difficult to sell due to its remoteness and location. The property settled on XX/XX/XXXX

Relevant legislative provisions: Income Tax Assessment Act 1997 section 118-195