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Edited version of your written advice
Authorisation Number: 1051424471348
Date of advice: 10 September 2018
Ruling
Subject: Deceased Estate – extension of time – deceased’s main residence
Question
Will the Commissioner allow an extension of time to DD/MM/YYY for you to dispose of your ownership interest in the dwelling and disregard the capital gain or loss you made on the disposal?
Answer
Yes. Having considered your circumstances and the relevant factors, the Commissioner will allow an extension of time. Further information about the discretion 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
Year ended 30 June 20XX
The scheme commenced on
1 July 20XX
Relevant facts and circumstances
The deceased acquired a dwelling (the property).
The property was used as the deceased main residence from the date of acquisition until the time of his passing and no income was derived from it.
The deceased resided in the property up until their date of death.
The property’s land size is less than two hectares.
There were delays with the administration of the estate.
The delays were outside of your control.
You did not dispose of the deceased’s main residence within two years of the date of death.
The property has been sold and settlement occurred DD/MM/YYYY.
Relevant legislative provisions
Income Tax Assessment Act 1997 subsection 118-195(1)