Private ruling: Capital gains tax - deceased estates
Date of advice: 15 May 2020
Published: June 2020
Ruling period: Year ending 30 June 20XX
Date scheme commenced: 1 July 20XX

Ruling: Q1: Will the Commissioner allow an extension of time to the settlement date 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. Further information about this discretion can be found by searching 'QC 52250' on ato.gov.au

Relevant facts and circumstances: The deceased died in 20XX. The deceased held a property as a main residence which did not produce income before or after her death. Administrators were appointed about 3 years later. A letter of administration and judgment orders were issued on was issued about 2 years ago. The property was sold in 20XX.

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