Small Superannuation Accounts Act 1995

This section applies to an individual’s account if:

the balance of the account is attributable, in whole or in part, to:

one or more deposits, or purported deposits, made by one or more employers or former employers of the individual; or

one or more shortfall components of payments of superannuation guarantee charge made by one or more employers or former employers of the individual; and

the individual satisfies the Commissioner of Taxation that the individual has ceased to be employed by each of the employers or former employers; and

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

the balance of the account is less than $200 immediately before the time when the account balance is withdrawn.

The withdrawal request must be:

in writing; and

in a form approved in writing by the Commissioner of Taxation.

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

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.