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This edited version has been archived due to the length of time since original publication.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: 1051428301389

Date of advice: 12 September 2018

Ruling

Subject: Deceased estate - main residence exemption

Question

Will the Commissioner allow an extension of time to xx xx 20xx for you to dispose of your ownership interest in the dwelling at XX and disregard the capital gain or loss you make on the disposal?

Answer

Yes. Having considered your circumstances and the relevant factors, the Commissioner will allow an extension of time to xx xx 20xx. Further information about this discretion can be found by searching 'QC 52250' on ato.gov.au

This ruling applies for the following period:

Xx xx 20xx to xx xx 20xx

The scheme commences on:

Xx xx 20xx

Relevant facts and circumstances

You inherited a dwelling, which was only used as a main residence by the deceased.

Due to complex circumstances surrounding the ownership of the property, the dwelling was not put on the market within two years of the death of the deceased.

Relevant legislative provisions

Income Tax Assessment Act 1997 section 118-195.

Income Tax Assessment Act 1997 subsection 118-195(1).


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