Small Superannuation Accounts Act 1995

PART 7 - WITHDRAWAL OF ACCOUNT BALANCES

Division 5 - Direct withdrawals of account balances by individuals

SECTION 65A WITHDRAWAL OF ACCOUNT BALANCE - TERMINAL MEDICAL CONDITION

Withdrawal request

65A(1)
This section applies to an individual ' s account if:

(a) the individual gives the Commissioner of Taxation a request (the withdrawal request ) for the withdrawal of the account balance; and

(b) a terminal medical condition (within the meaning of the Income Tax Assessment Act 1997 ) exists in relation to the individual.

Form of withdrawal request

65A(2)
The withdrawal request must be:

(a) in writing; and

(b) in a form approved in writing by the Commissioner of Taxation.

Compliance with withdrawal request

65A(3)
The Commissioner of Taxation must pay to the individual an amount equal to the account balance immediately before the payment is made.

Special Account to be debited

65A(4)
The Special Account is debited for the purposes of making the payment.

Individual ' s account to be debited

65A(5)
When the payment is made, the individual ' s account is debited by the amount of the payment.

View history note

History

S 65A inserted by No 23 of 2018, s 3 and Sch 1 item 28, effective 1 April 2018. No 23 of 2018, s 3 and Sch 1 Pt 7 contain the following general application and transitional provisions:

Part 7 - General application and transitional provisions
75 Object
75
The object of this Part is to ensure that, despite the repeals and amendments made by this Schedule, the full legal and administrative consequences of:

(a) any act done or omitted to be done; or

(b) any state of affairs existing; or

(c) any period ending;
before such a repeal or amendment applies, can continue to arise and be carried out, directly or indirectly through an indefinite number of steps, even if some or all of those steps are taken after the repeal or amendment applies.
76 Making and amending assessments, and doing other things, in relation to past matters
76
Even though an Act is repealed or amended by this Schedule, the repeal or amendment is disregarded for the purpose of doing any of the following under any Act or legislative instrument:

(a) making or amending an assessment (including under a provision that is itself repealed or amended);

(b) exercising any right or power, performing any obligation or duty or doing any other thing (including under a provision that is itself repealed or amended);
in relation to any act done or omitted to be done, any state of affairs existing, or any period ending, before the repeal or amendment applies.
77 Saving of provisions about effect of assessments
77
If a provision or part of a provision that is repealed or amended by this Schedule deals with the effect of an assessment, the repeal or amendment is disregarded in relation to assessments made, before or after the repeal or amendment applies, in relation to any act done or omitted to be done, any state of affairs existing, or any period ending, before the repeal or amendment applies. 78 Repeals disregarded for the purposes of dependent provisions
78
If the operation of a provision (the subject provision ) of any Act or legislative instrument depends to any extent on an Act, or a provision of an Act, that is repealed by this Schedule, the repeal is disregarded so far as it affects the operation of the subject provision. 79 Part does not limit operation of section 7 of the Acts Interpretation Act 1901
79
This Part does not limit the operation of section 7 of the Acts Interpretation Act 1901 .

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