Simplified outline
62 Simplified outline
The following is a simplified outline of this Division:
• The balance of an individual’s account may be withdrawn if:
the balance is less than $200; and
the individual has ceased to be employed by all depositors.
• The balance of an individual’s account may be withdrawn if the individual is in receipt of Commonwealth income support payments for a sufficient period.
• The balance of an individual’s account may be withdrawn if the individual has retired because of permanent disability.
• The balance of an individual’s account may be withdrawn if a terminal medical condition exists in relation to the individual.
• The balance of an individual’s account may be withdrawn if the individual has turned 65.
• The balance of an individual’s account may be withdrawn if the individual is at least 55 years old and is not an Australian resident for income tax purposes and:
the individual is not in employment; or
the individual is in employment, but the duties of the individual’s employment are performed wholly or principally outside Australia.
• The balance of an individual’s account may be withdrawn if the individual is a former temporary resident.
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