Private ruling: Commissioner's discretion to extend the main residence exemption
Date of advice: 1 September 2017
Published: December 2017
Ruling period: Year ended 30 June xxxx
Date scheme commenced: 01 July xxxx

Ruling: Q1: Will the Commissioner exercise his discretion under subsection 118-195(1) of the Income Tax Assessment Act 1997 (ITAA 1997) and allow an extension of time to the two year period until xx xxxx xxxx? | A1: Yes. Having considered your circumstances and the relevant factors, the Commissioner is able to apply his discretion under subsection 118-195(1) of the ITAA 1997 and allow an extension of time until xx xxxx xxxx . Further information on the relevant factors and inheriting a dwelling generally can be found on our website ato.gov.au and entering Quick Code QC52250 into the search bar at the top right of the page.

Relevant facts and circumstances: This ruling is based on the facts stated in the description of the scheme that is set out below. If your circumstances are materially different from these facts, this ruling has no effect and you cannot rely on it. The fact sheet has more information about relying on your private ruling. The deceased acquired property prior to 20 September 1985. The dwelling was the deceased’s main residence up to their date of death. The deceased’s dated of death was x xx xxxx. The deceased had a will and probate was granted to two executors under the will. The deceased had X children. One of the children contested the will soon after the deceased’s date of death in the Supreme Court. On xx xxxx xxxxx the application by the Plaintiff was dismissed thereby allowing the dwelling to be sold. On x xxxx xxxxx the dwelling was listed for auction and the auction was scheduled. The property was sold at auction and settlement occurred on xx xxxx xxxxx One of the children of the deceased lived in the house rent free from the deceased’s date of death until the property was sold.