Private ruling: Capital gains tax (CGT) and the small business concessions
Date of advice: 10 March 2020
Published: April 2020
Ruling period: Year ending 30 June 20XX | Year ending 30 June 20XX
Date scheme commenced: 1 July 20XX

Ruling: Q1: Will the Commissioner extend the replacement asset period to 20XX? | A1: Yes Having considered your circumstances and the relevant factors the Commissioner considers it appropriate to grant an extension of the replacement asset period. Further information can be found by searching 'QC 52291' on ato.gov.au

Relevant facts and circumstances: You sold a business asset and the associated CGT event occurred on 20XX. You made the choice to utilise the small business concession rollover in your 20XX-XX financial year income tax return. You have been searching for another property to acquire. Despite searching, you have not yet found a suitable replacement property.

Relevant legislative provisions: Income Tax Assessment Act 1997 section 104-190.