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Edited version of your written advice
Authorisation Number: 1051445992879
Date of advice: 31 October 2018
Ruling
Subject: Capital gains tax and a deceased estate – the Commissioner’s discretion to extend the two year period for disposal of a main residence.
Question
Will the Commissioner allow an extension of time to XX XXX 2018 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(s)
Year ended 30 June 2018
Year ending 30 June 2019
The scheme commences on
1 July 2017
Relevant facts and circumstances
The property in question was the residence of the deceased who purchased the property in 19XX and lived in it until the date of death in 2016.
An executor was hampered in undertaking the work involved to get the property sold because of medical issues.
The property has never been used to produce assessable income.
The dwelling is on land of less than 2 hectares.
The property was sold shortly after the expiry of the two year period.