Private ruling: Commissioner's discretion - deceased estate
Date of advice: 25 October 2021
Published: January 2022
Ruling period: Year ending 30 June 20xx
Date scheme commenced: 1 July 2020

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: Following the passing of the deceased, the will was challenged by one of the beneficiaries for a larger share which delayed the disposal of the deceased's main residence.

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