Disclaimer
This edited version has been archived due to the length of time since original publication. It should not be regarded as indicative of the ATO's current views. The law may have changed since original publication, and views in the edited version may also be affected by subsequent precedents and new approaches to the application of the law.

You cannot rely on this record in your tax affairs. It is not binding and provides you with no protection (including from any underpaid tax, penalty or interest). In addition, this record is not an authority for the purposes of establishing a reasonably arguable position for you to apply to your own circumstances. For more information on the status of edited versions of private advice and reasons we publish them, see PS LA 2008/4.

Edited version of your written advice

Authorisation Number: 1051277014619

Date of advice: 1 September 2017

Ruling

Subject: Commissioner's discretion to extend the main residence exemption

Question

Will the Commissioner exercise his discretion under subsection 118-195(1) of the Income Tax Assessment Act 1997 (ITAA 1997) and allow an extension of time to the two year period until xx xxxx xxxx?

Answer

Yes.

Having considered your circumstances and the relevant factors, the Commissioner is able to apply his discretion under subsection 118-195(1) of the ITAA 1997 and allow an extension of time until xx xxxx xxxx . Further information on the relevant factors and inheriting a dwelling generally can be found on our website ato.gov.au and entering Quick Code QC52250 into the search bar at the top right of the page.

This ruling applies for the following period:

The scheme commences on:

01 July xxxx

Relevant facts and circumstances

This ruling is based on the facts stated in the description of the scheme that is set out below. If your circumstances are materially different from these facts, this ruling has no effect and you cannot rely on it. The fact sheet has more information about relying on your private ruling.

The deceased acquired property prior to 20 September 1985. The dwelling was the deceased’s main residence up to their date of death.

The deceased’s dated of death was x xx xxxx.

The deceased had a will and probate was granted to two executors under the will.

The deceased had X children. One of the children contested the will soon after the deceased’s date of death in the Supreme Court. On xx xxxx xxxxx the application by the Plaintiff was dismissed thereby allowing the dwelling to be sold.

On x xxxx xxxxx the dwelling was listed for auction and the auction was scheduled.

The property was sold at auction and settlement occurred on xx xxxx xxxxx

One of the children of the deceased lived in the house rent free from the deceased’s date of death until the property was sold.

Copyright notice

© Australian Taxation Office for the Commonwealth of Australia

You are free to copy, adapt, modify, transmit and distribute material on this website as you wish (but not in any way that suggests the ATO or the Commonwealth endorses you or any of your services or products).