Private ruling: Commissioner's discretion to allow more time to dispose of a dwelling
Date of advice: 1 September 2021
Published: November 2021
Ruling period: 30 June 20xx
Date scheme commenced: 1 July 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 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: After the death of the deceased, a legal dispute from the challenge of the will between the beneficiaries occurred. It took some time for the dispute to be resolved which resulted in a delay in the disposal of your ownership interest in the deceased's main residence which you had inherited.

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


This ruling applies for the following period: