Private ruling: Main residence exemption
Date of advice: 6 June 2018
Published: August 2018
Ruling period: Year ending 30 June 201X
Date scheme commenced: 1 July 201X

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? | 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. Further information on the relevant factors and inheriting a dwelling generally can be found on our website ato.gov.au and entering Quick Code QC17195 into the search bar at the top right of the page.

Relevant facts and circumstances: The deceased passed away in December 201X. After the deceased’s death, the trustees of her estate placed the unit for sale but the previous body corporate secretary would not issue any owners corporation certificates to perspective buyers and hence the unit could not be sold. Following court orders the corporate secretary would still not issue the required certificates to enable any sale and was imprisoned for thirty days for contempt of court. The owners of the other units later applied to the federal court to have him removed as secretary and formed an alternative body corporate which then enabled the unit to be sold.

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