Private ruling: Deceased estate
Date of advice: 30 June 2020
Published: August 2020
Ruling period: Year ended 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 you make on the disposal? | A1: Yes. Having considered your circumstances and the relevant factors, the Commissioner will allow an extension of time.

Relevant facts and circumstances: The deceased died on XX/XX/XXXX. Under the deceased's will, their main residence (dwelling) was bequeathed to the beneficiaries. Legal proceeding were commenced by the executor and other family members against the beneficiaries. These proceedings were dismissed on XX/XX/XXXX and the beneficiaries obtained title on XX/XX/XXXX. The beneficiaries sold the property on XX/XX/XXXX.

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