Small Superannuation Accounts Act 1995

The following is a simplified outline of this Part:

• Notional accounts are to be kept within the Special Account in the names of particular individuals.

• Section 13 outlines credits to accounts.

• Section 14 outlines debits to accounts.

• The Commissioner of Taxation may open or close an account.

• Accounts may have a nil balance.

• An individual may only have one account.

• Account balances are not held on trust.

• An individual’s account balance will be notified to the individual in certain circumstances.