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This edited version has been archived due to the length of time since original publication.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: 1051613828728

Date of advice: 13 December 2019

Ruling

Subject: Income Tax - Capital Gains Tax - Deceased Estate

Question

Will the Commissioner allow an extension of time to XX 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 periods:

Year ending June 2019

Year ending June 2020

The scheme commences on:

1 July 20XX

Relevant facts and circumstances

The deceased owned a property which they used as their main residence until their death.

The deceased had a foreign Will which delayed probate.

The XYZ probate office required additional legal advice to confirm that foreign Will was genuine.

The Will required an Australian lawyer who understood the foreign law to confirm the will was genuine.

The executor experienced difficulty in managing the complex process of administering the estate due to working overseas until they returned to Australia permanently.

Probate was granted on xx/xx/xxxx.

Property was sold on xx/xx/xxxx

Property was settled on xx/xx/xxxx.

Relevant legislative provisions

Income Tax Assessment Act 1997 section 118-195