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Edited version of your written advice
Authorisation Number: 1051338671565
Date of advice: 18 April 2018
Ruling
Subject: Capital gains tax
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?
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(s)
Year ended 30 June 20XX
The scheme commences on
1 July 20XX
Relevant facts and circumstances
You are the executor of a deceased estate.
The deceased passed away in 20XX.
The estate is still held in trust with a solicitor.
The house was sold in 20XX and settlement was two years and eight days after the deceased’s death.
Relevant legislative provisions
Income Tax Assessment Act 1997 Section 118-195