PCG 2018/D6 – CGT – extension of the 2-year period for main residence exemption in deceased estates – favourable and unfavourable factors and ‘safe harbour’ for 12 month extension
On Wed 22.8.2018, the ATO issued Draft Practical Compliance Guideline PCG 2018/D6. This relates to the operation of the 2 year rule in s118-195(1)(b), item 1, column 3, of the ITAA97. This provision deals with a dwelling that was the deceased’s main residence, at the date of death, and gives some latitude for that exemption to,…