Private ruling: CGT main residence exemption - deceased estate - extension to two-year period
Date of advice: 8 March 2021
Published: June 2021
Ruling period: Year ended 30 June 20XX | Year ended 30 June 20XX | Year ended 30 June 20XX
Date scheme commenced: 1 July 20XX

Ruling: Q1: Will the Commissioner allow an extension of time 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: This ruling is based on the facts stated in the description of the scheme that is set out below. If your circumstances are materially different from these facts, this ruling has no effect and you cannot rely on it. The fact sheet has more information about relying on your private ruling. The deceased died during the year ended 30 June 20XX The dwelling was purchased by the deceased pre-CGT and was the deceased's main residence. The property was tenanted, which delayed gaining access to the house to sell, as the tenant was un-cooperative. The tenant vacated the property approximately X years and X months after the deceased's death. The contract of sale was signed X weeks after the tenant vacated. Settlement of the sale was extended due to unexpected circumstances that arose for the buyers of the property. Settlement occurred X weeks after the contract was signed.

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