Private ruling: CGT - 2-year Commissioner's discretion
Date of advice: 26 June 2026
Published: 17 August 2026
Ruling period: For the income year ending 30 June 20YY
Date scheme commenced: 1 July 20YY

Ruling: Q1: Will the Commissioner exercise the discretion to extend the two-year period and allow an extension of time for you to dispose of your ownership interest in the Property under section 118-195 of the Income Tax Assessment Act 1997 and disregard any capital gain or loss you make? | A1: Yes.

Relevant facts and circumstances: On DDMMYYYY X (deceased), their spouse X (also deceased) and their adult child X, acquired a property situated at X (the Property) as tenants in common with equal ownership shares. X died on DDMMYYYY, leaving a Will dated DDMMYYYY. X bequeathed their 1/3 ownership interest in the Property to their spouse absolutely as per clause 2 of their Will. X died on DDMMYYYY, also leaving a Will dated DDMMYYYY. Both X and X used the Property as their main residence from acquisition until their respective deaths. The Property was left vacant after X died in YYYY. The Property is less than 2 hectares. The Property has never been used to produce assessable rental income. X and their sibling X were both appointed as the Executors of X Estate; however, X was incarcerated which caused a delay in them obtaining the Probate for their parents Will. X (Acting as the appointed Executor for both Estates) obtained authorisation from both X and X to obtain the Grant of Probate for X which issued on DD MM 20YY. During the administration of X's Estate, X identified that the title to the Property was not updated to reflect the 1/3 change of ownership to X after X death. On DDMMYYYY X was granted the Letters of Administration with the Will annexed of X. On DDMMYYYY X signed an Enduring Power of Attorney appointing X to also manage their affairs which included disposing of their 1/3 ownership interest in the Property. X took the necessary steps to sell the property during MM and MM YYYY. X's 1/3 ownership interest was sold by X as the Executor of the X Estate in a contract dated DDMMYYYY. Settlement occurred on DDMMYYYY. X's 1/3 ownership interest in the Property was also sold by X as the Executor of X's Estate.



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