Small Superannuation Accounts Act 1995
This section applies to an individual's account if:
(a) the balance of the account is attributable, in whole or in part, to:
(i) one or more deposits, or purported deposits, made by one or more employers or former employers of the individual; or
(ii) one or more shortfall components of payments of superannuation guarantee charge made by one or more employers or former employers of the individual; and
(b) the individual satisfies the Commissioner of Taxation that the individual has ceased to be employed by each of the employers or former employers; and
(c) the individual gives the Commissioner of Taxation a request (the ``withdrawal request'' ) for the withdrawal of the account balance; and
(d) the balance of the account is less than $200 immediately before the time when the account balance is withdrawn.
View history note
Hide history noteThe withdrawal request must be:
(a) in writing; and
(b) in a form approved in writing by the Commissioner of Taxation. 63(3) Compliance with withdrawal request.
The Commissioner of Taxation must pay to the individual an amount equal to the account balance immediately before the payment is made.
63(4) Special Account to be debited.The Special Account is debited for the purposes of making the payment.
When the payment is made, the individual's account is debited by the amount of the payment.
Disclaimer and notice of copyright applicable to materials provided by CCH Australia Limited
CCH Australia Limited ("CCH") believes that all information which it has provided in this site is accurate and reliable, but gives no warranty of accuracy or reliability of such information to the reader or any third party. The information provided by CCH is not legal or professional advice. To the extent permitted by law, no responsibility for damages or loss arising in any way out of or in connection with or incidental to any errors or omissions in any information provided is accepted by CCH or by persons involved in the preparation and provision of the information, whether arising from negligence or otherwise, from the use of or results obtained from information supplied by CCH.
The information provided by CCH includes history notes and other value-added features which are subject to CCH copyright. No CCH material may be copied, reproduced, republished, uploaded, posted, transmitted, or distributed in any way, except that you may download one copy for your personal use only, provided you keep intact all copyright and other proprietary notices. In particular, the reproduction of any part of the information for sale or incorporation in any product intended for sale is prohibited without CCH's prior consent.
