Private ruling: Capital Gains Tax
Date of advice: 18 August 2025
Published: 27 October 2025
Ruling period: DDMMYY
Date scheme commenced: 30 June 20XX

Ruling: Q1: Will the Commissioner exercise the discretion under section 118-195 of ITAA 1997 to allow an extension of time for you to dispose of your ownership interest in the dwelling and disregard the capital gain or capital 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 Commissioner's discretion can be found by searching ato.gov.au for 'QC 66057'.

Relevant facts and circumstances: The deceased passed away on DDMMYY The property was purchased after 20 September 1985. The deceased and beneficiary X resided at the property as their main residence. Due to ongoing and complex health issues beneficiary X was unable to leave the property. A smaller more manageable property was eventually located for beneficiary X and they moved into the property. Shortly afterwards beneficiary X moved out of the property it was placed on the market for sale. Contract of sale was executed on DDMMYY. Settlement was completed on DDMMYY.

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