Small Superannuation Accounts Act 1995
The Commissioner of Taxation may close an individual ' s account if the balance of the account is nil and:
(a) the balance of the account was nil throughout the preceding period of 2 years; or
(b) the balance of the account has been withdrawn under section 61 , 65 , 65A , 66 , 67 , 67A or 91E ; or
(c) the individual has died; or
(d) the individual asks the Commissioner of Taxation to close the account; or
(e) the balance of the account has been debited from the Special Account under Part 9 (which deals with inactive accounts).
Note 1:
Section 61 deals with individuals who request transfer of account balances to RSAs or superannuation funds.
Note 2:
Section 65 deals with individuals who retire because of disability.
Note 2A:
Section 65A deals with individuals in relation to whom terminal medical conditions exist.
Note 3:
Section 66 deals with individuals who have turned 65.
Note 4:
Section 67 deals with individuals who are not Australian residents for income tax purposes etc.
Note 5:
Section 67A deals with individuals who have permanently departed from Australia.
Note 6:
Section 91E deals with debiting of accounts to recover overpayments of Government co-contributions.
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