Private ruling: CGT - deceased estate
Date of advice: 26 November 2025
Published: 12 January 2026
Ruling period: Year ending 30 June 20xx
Date scheme commenced: xx July 20xx

Ruling: Q1: Will the Commissioner exercise the discretion under section 118-195 of the Income Tax Assessment Act 1997 (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: On DD MM YY, the deceased signed her will. On DD MM YY, the deceased died. The deceased owned a property at XXXX. It was a pre-CGT asset. The property was her main residence from date of acquisition until the date of death. Following the deceased's death, a family dispute occurred regarding the administration of the estate. The main issue was in regards to dealing with the daughter of the deceased. She would not co-operate with Public Trustee, which includes not responding to queries about her mother's estate and not being contactable. On DD MM YY, probate was granted, and Public Trustee commenced formal administration of the estate. Further delays occurred because the daughter of the deceased did not want the agent to be appointed by Public Trustee, instead she had her own preference for an agent. However, an agreement was eventually reached regarding the real estate agent. On DD MM YY, mediation of the estate chattel occurred, where Public Trustee advised the two beneficiaries to come to an agreement as who could take the disputed estate chattel. Subsequently, repairs (fixing the bathroom and painting the interior of the property) were made to the property in order to get it ready for sale. A real estate agency was engaged to sell the property, and it was listed for sale on DD MM YY. On DD MM YY, the property was sold and the contract was signed. On DD MM YY, the property settled.

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