Private ruling: Period of review - deceased estate
Date of advice: 14 March 2024
Published: 22 April 2024
Ruling period: Year ended 30 June 20YY | Year ended 30 June 20YY | Year ended 30 June 20YY | Year ended 30 June 20YY | Year ended 30 June 20YY | Year ended 30 June 20YY
Date scheme commenced: 1 July 20YY

Ruling: Q1: Will the Commissioner amend the income tax assessments of the deceased for the income years ended 30 June 20YY to 30 June 20YY? | A1: No. Item 1 in the table in subsection 170(1) of the Income Tax Assessment Act 1936 (ITAA 1936) provides that the Commissioner may amend an assessment of an individual for a year of income within 2 years after the day on which the Commissioner gives notice of the assessment to the individual, subject to a number of qualifications. Item 5 in the table in subsection 170(1) of the ITAA 1936 provides that the Commissioner may amend an assessment at any time if he or she is of the opinion there has been fraud or evasion. As the assessments for the income years ended 30 June 20YY to 30 June 20YY were made more than 2 years ago, none of the listed qualifications apply, and there is no evidence of fraud or evasion, the Commissioner cannot amend the assessments.

Relevant facts and circumstances: The deceased died during the year ended 30 June 20YY. The executor was granted probate of the will. The deceased's income tax returns were lodged on the relevant dates. More than two years has passed for all lodgments, except the final tax return. In the four years before their death the deceased: • did not carry on a business. • was not assessable on a share of the net income of a discretionary trust. • was not a member of a self-managed superannuation fund. The deceased did not have any outstanding tax-related liabilities at the time of their death. The deceased did not have any outstanding lodgments at the time of their death and the final return was lodged more than six months ago. No quantifiable material irregularities, or necessary amendments to the income tax returns, have been identified by the executor. The ATO has not given the executor notice that it intends to examine the deceased's taxation affairs within six months from the lodgment of the last of the outstanding returns. None of the qualifications listed in item 1 in the table in subsection 170(1) of the ITAA 1936 apply to the deceased. The period of review of two years has expired for all lodgments made prior to the deceased's death. There is no evidence of fraud or evasion in the dealings outlined in the ruling application.

Relevant legislative provisions: Income Tax Assessment Act 1936 section 170