Private ruling: Commissioner's discretion - deceased estate
Date of advice: 22 March 2022
Published: June 2022
Ruling period: The year ending DD/MM/YYYY
Date scheme commenced: DD/MM/YYYY

Ruling: Q1: Will the Commissioner allow an extension of time for you to dispose of your ownership interest in the dwelling (the property) 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 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. The property has never been used to produce assessable income. Since the deceased passed away, the sensitivity of your personal circumstances means that you will not be able to dispose of the property within the two-year period.

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