Private ruling: Deceased estate- two year discretion
Date of advice: 23 October 2019
Published: December 2019
Ruling period: Year ending 30 June 2020 | Year ending 30 June 2019
Date scheme commenced: 11 June 2017

Ruling: Q1: Will the Commissioner allow an extension of time to XX 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: The deceased resided in the property until their death. There are two trustees and executors for the estate. One of the trustees suffered from serious health issues leading to a delay in the sale of the property. Property was sold and settlement occurred on XX.

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