Private ruling: Commissioner's discretion - deceased estate
Date of advice: 19 January 2022
Published: April 2022
Ruling period: Year ending 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 or loss you made on the disposal? | A1: Yes. Having considered your circumstances and the relevant factors the Commissioner will allow an extension of time. Further information about the Commissioner's discretion can be found by searching 'QC 66057' on ato.gov.au

Relevant facts and circumstances: The Deceased purchased and owned a property which was their main residence until date of death and was not used for income producing purposes. Probate was granted on xx/xx/xxxx to A. The sensitivity of the personal circumstances of the surviving relative of the deceased contributed to the delay of administration. There were also circumstances outside the control of the beneficiary which caused delays in selling the property. The dwelling was listed for sale as soon as practically possible after those circumstances were resolved. The property was sold with settlement occurring xx/xx/xxxx.

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