Private ruling: Commissioner's discretion - deceased estate
Date of advice: 9 October 2020
Published: November 2020
Ruling period: Year ended 30 June 20XX
Date scheme commenced: 1 July 20XX

Ruling: Q1: Will the Commissioner allow an extension of time to XX/XX/XXXX 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.

Relevant facts and circumstances: The deceased died on XX/XX/XXXX. At their death, the dwelling was their main residence. Ongoing court proceedings prevented the dwelling from being listed for sale. When these proceedings were settled, the dwelling was placed on the market. A contract of sale for the dwelling was entered into on XX/XX/XXXX. Settlement occurred on XX/XX/XXXX.

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