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Edited version of private advice
Authorisation Number: 1051602321332
Date of advice: 19 November 2019
Ruling
Subject: Capital Gains Tax
Question 1
Did a capital gains A1 event occur upon signing of the contract on XX November 20XX for the sale of the property?
Answer
Yes
Question 2
Can you apply the main residence exemption to any capital gains made on the sale of the property?
Answer
Yes
This ruling applies for the following period:
Year ended 30 June 2017
The scheme commences on:
21 November 2016
Relevant facts and circumstances
This ruling is based on the facts stated in the description of the scheme that is set out below. If your circumstances are materially different from these facts, this ruling has no effect and you cannot rely on it. The fact sheet has more information about relying on your private ruling.
You entered into a contract to sell your property, and this property was your principal place of residence for the entire period of your ownership.
You passed away.
The payment of the bank guarantee was paid to the Estate.
Relevant legislative provisions
Income Tax Assessment Act 1997 Section 104-10
Income Tax Assessment Act 1997 Section 104-25
Income Tax Assessment Act 1997 Section 104-35
Income Tax Assessment Act 1997 Section 118-110