Private ruling: Extension of time for the main residence exemption for a deceased estate as the will was challenged
Date of advice: 8 July 2019
Published: October 2019
Ruling period: 1 July 20XX to the 30 June 20XX
Date scheme commenced: 1 July 20XX

Ruling: Q1: Will the Commissioner exercise the discretion to subsection 118-195(1) of the Income Tax Assessment Act 1997 (ITAA 1997) by way of an extension? | A1: Yes, the extension is granted under the discretion at subsection 118-195(1) of the ITAA1997. The main residence exemption will only apply up to two hectares of the property.

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 property was the deceased's main residence in 20XX at the time of passing. A challenge to the will in 20XX, made a period of delay for two years until court orders were given. The house was sold the following year. The property is more than two hectares.

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