| Disclaimer 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: 1051731846391
Date of advice: 12 August 2020
Ruling
Subject: Deceased estate - Commissioner's discretion
Question
Will the Commissioner allow an extension of time to XX/XX/XXXX 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.
This ruling applies for the following period:
Year ended 30 June 20XX
The scheme commences on:
1 July 20XX
Relevant facts and circumstances
The deceased passed away on XX/XX/XXXX.
The deceased's will left his main residence to his spouse.
A family provision application was filed on behalf of the deceased's children on XX/XX/XXXX. Final orders were not handed down until XX/XX/XXXX.
The property was sold on XX/XX/XXXX.
Relevant legislative provisions
Income Tax Assessment Act 1997 section 118-195