Private ruling: Deceased Estate
Date of advice: 14 August 2025
Published: 20 October 2025
Ruling period: Year ending DD MM YYYY
Date scheme commenced: DD MM YYYY

Ruling: Q1: Will the Commissioner exercise the discretion under section 118-195 of ITAA 1997 to allow an extension of time for you to dispose of your ownership interest in the dwelling and disregard the capital gain or capital 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 ato.gov.au for 'QC 66057'.

Relevant facts and circumstances: The deceased passed away on DD MM YYYY. The property was the main residence of the deceased just before they passed away and was not used to produce assessable income at any time. The deceased acquired the property before 20 September 1985, with their spouse. The property was situated on less than two hectares of land. Their spouse passed away in YYYY. The spouse's interest in the property was transferred to the deceased on DD MM YYYY. The deceased wrote a will on DD MM YYYY. The will names 2 executors. The sale of the property was delayed a few months past the 2 year period due to sensitive issues around health requiring medical treatment, and family separation. Probate was granted on DD MM YYYY. On DD MM YYYY a sale of contract was entered in to. On DD MM YYYY the property was settled.

Relevant legislative provisions: Income Tax Assessment Act 1997 section 118-195 | Income Tax Assessment Act 1997 section 149-10