Private ruling: CGT two year main residence exemption in relation to deceased estate
Date of advice: 17 October 2018
Published: December 2018
Ruling period: Year ending 30 June 20XX
Date scheme commenced: 1 July 20XX

Ruling: Q1: Will the Commissioner allow an extension of time to XX/XX/XXXX for you to dispose of your ownership interest in the dwelling and disregard the capital gain or loss 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 purchased their main residence on XX/XX/XXXX. The property is less than 2 hectares in size. The deceased died on XX/XX/XXXX. The administration of the estate was delayed due to factors outside of the executor’s control which resulted in the property being disposed of more than 2 years after the deceased’s death.

Relevant legislative provisions: Income Tax Assessment Act 1997 subsection 118-195(1)