Private ruling: CGT - deceased estate
Date of advice: 19 September 2023
Published: 30 October 2023
Ruling period: Year ending 30 June 20XX.
Date scheme commenced: 11 June 20XX.

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 you make on the disposal? | A1: Yes. Having considered your circumstances and the relevant factors, the Commissioner will allow an extension of time to dispose of the dwelling. Further information about this discretion can be found by searching 'QC 52250' on ato.gov.au.

Relevant facts and circumstances: Deceased passed away in June 20XX. The deceased acquired the property after 20 September 1985. The property was the main residence of the deceased just before they passed away and was not used to produce assessable income at that time. The property is situated on more than 2 hectares of land. Probate was granted in December 20XX. The delay in settlement of the contract of sale was caused by circumstances beyond your control, as follows: - the deceased's child was evicted from the property by police in February 20XX. The property was listed for sale as soon as practically possible. The property will be sold at the earliest opportunity and proceeds distributed amongst the beneficiaries. The sale of the property is being reasonably managed since having access to the property in February 20XX.

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


restrictions on travel to the property, imposed by a government authority in response to the COVID-19 pandemic | complexities of other surviving relatives of the deceased