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Edited version of your written advice
Authorisation Number: 1051290465261
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You cannot rely on this edited version in your tax affairs. You can only rely on the advice that we have given to you or to someone acting on your behalf.
The advice in the Register has been edited and may not contain all the factual details relevant to each decision. Do not use the Register to predict ATO policy or decisions.
Date of advice: 12 October 2017
Ruling
Subject: Capital gains tax
Question 1
Will the Commissioner exercise his discretion under subsection 118-195(1) of the Income Tax Assessment Act 1997 (ITAA 1997) and extend the 2 year period?
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? Further information on the relevant factors and inheriting a dwelling generally can be found on our website ato.gov.au and entering Quick Code QC17195 into the search bar at the top right of the page.
This ruling applies for the following period:
Year ended 30 June 2018
The scheme commences on:
30 June 2017
Relevant facts and circumstances
The deceased passed away.
The deceased owned a property which was their main residence for the entire ownership period.
The property was never used for income producing purposes.
Probate was granted. Problems arose.
The property settled more than two years after the date of death.
Relevant legislative provisions
Income Tax Assessment Act 1997 subsection 118-195(1).
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