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Edited version of your written advice
Authorisation Number: 1051424458650
Date of advice: 21 September 2018
Ruling
Subject: The Commissioner’s discretion to extend the two year time limit to dispose of a dwelling
Question
Will the Commissioner allow an extension of time to 20XX for you to dispose of your ownership interest in the dwelling 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. Further information about this discretion can be found by searching 'QC 52250' on ato.gov.au
This ruling applies for the following period:
Year ended 30 June 20XX
Year ended 30 June 20XX
The scheme commences on:
1 July 20XX
Relevant facts and circumstances
The Deceased purchased the Property on a date after 20 September 1985.
The Deceased passed in 20XX. The Property was their main residence just before their death.
The Executor was appointed as Executor under the Deceased’s Will.
One of the beneficiaries was unable to attend to the execution of the Will owing to a diagnosed medical condition.
The property was sold under a contract which settled in 20XX.
Relevant legislative provisions
Income Tax Assessment Act 1997 section 118-195