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Edited version of your written advice
Authorisation Number: 1051519596365
Date of advice: 18 May 2019
Ruling
Subject: Commissioner’s discretion to extend the two year period
Question
Will the Commissioner allow an extension of time to x xx xxx for you to dispose of your ownership interest in the dwelling and disregard the capital gain 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 ending 30 June 2019
The scheme commences on:
1 July 2018
Relevant facts and circumstances
The deceased passed away.
The deceased had acquired the property prior to 20 September 1985. The property was their main residence at time of death.
The deceased used the property as their main residence for the entire ownership period.
Probate was delayed.
The date of sale was not until two years after the date of death.
Relevant legislative provisions
Income Tax Assessment Act 1997 subsection 118-195(1)