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Will the Commissioner exercise the discretion in subsection 104-190(2) of the Income Tax Assessment Act 1997 to extend the replacement asset period to DD/MM/YYYY?

Yes. Having considered your circumstances and the relevant factors the Commissioner will exercise the discretion and extend the replacement asset period to DD/MM/YYYY. This ruling applies for the following periods : The year ended 30 June 20YY The year ended 30 June 20YY The year ending 30 June 20YY The year ending 30 June 20YY The scheme commenced on: DD/MM/YYYY

You sold a business. There were several factors outside your control that prevented the purchase of a replacement asset within the 2-year replacement asset period. You are requesting an extension of time to the 2-year replacement asset period so you can source a replacement asset and apply the small business CGT roll-over concession.

Income Tax Assessment Act 1997 subsection 140-190(2)