Private ruling: Deceased estate - extension of time - deceased's main residence
Date of advice: 17 December 2020
Published: February 2021
Ruling period: Year ended 30 June 2019 | Year ended 30 June 2020 | Year ended 30 June 2021
Date scheme commenced: 1 July 2018

Ruling: Q1: Will the Commissioner allow an extension of time to DD/MM/YYYY for you to dispose of your ownership interest in the dwelling and adjacent land and disregard the capital gain 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 'QC 52250' on ato.gov.au

Relevant facts and circumstances: The deceased passed away. The deceased purchased a property, post capital gains tax (CGT) and the property was the deceased's main residence prior to passing. The deceased's estate was subject to a number of legal challenges that delayed the sale of the property.

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