| Disclaimer This edited version has been archived due to the length of time since original publication. It should not be regarded as indicative of the ATO's current views. The law may have changed since original publication, and views in the edited version may also be affected by subsequent precedents and new approaches to the application of the law. You cannot rely on this record in your tax affairs. It is not binding and provides you with no protection (including from any underpaid tax, penalty or interest). In addition, this record is not an authority for the purposes of establishing a reasonably arguable position for you to apply to your own circumstances. For more information on the status of edited versions of private advice and reasons we publish them, see PS LA 2008/4. |
Edited version of private advice
Authorisation Number: 1051563259491
Date of advice: 9 August 2019
Ruling
Subject: 2 year extension - Commissioners discretion
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 until 21 December 2017?
Answer
Yes
The Commissioner will exercise his discretion under subsection 118-195(1) of the Income Tax Assessment Act 1997 (ITAA 1997) and allow an extension of time until 21 December 2017.
This ruling applies for the following period:
Period ending 30 June 2018
The scheme commences on:
1 July 2017
Relevant facts and circumstances
The deceased purchased a property in 19XX.
The deceased passed away on 20XX.
Probate was granted to the executor 20XX.
The property was left in the will to two siblings as tenants in common.
The property was the sole material asset of the Deceased Estate.
The deceased's' other siblings resided in the property and had done so since the purchase of the property.
There was no provision made for them in the will.
There was an agreement made between the beneficiaries and the other siblings about the property.
Settlement date for the transfer of the property was made just over 2 years from the date of death.
Factors contributing to extending beyond the 2 year period are: the executors' understanding of the English language and therefore their responsibilities as executor.
A family illness that inhibited the ability of the spouse assisting with the responsibilities.
A delay in travelling overseas to discuss issues with the other beneficiary.
Relevant legislative provisions
Subsection 118-195(1) of the Income Tax Assessment Act 1997 (ITAA 1997)