Private ruling: Capital gains tax
Date of advice: 15 October 2019
Published: December 2019
Ruling period: Year ended 30 June 20XX | Year ending 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 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. The deceased had lived in and owned the dwelling. It was their main residence until their death. Part of the dwelling was damaged and it could not be put on the market. The repair work took a long time to be completed. The property was sold. The settlement date occurred.

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