Small Superannuation Accounts Act 1995

This section applies to an individual’s account if:

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

the individual has been in receipt of one or more Commonwealth income support payments for:

if the person is at least 55 years of age—a period of at least 39 weeks, or for 2 or more periods that total at least 39 weeks, since the person turned 55; or

in any case—for an unbroken period of at least 26 weeks (other than such a period that ended before the withdrawal request was given); and

the individual gives the Commissioner of Taxation:

written evidence of the individual’s receipt of relevant Commonwealth income support payments provided by the Commonwealth Department or agency that is responsible for administering the payment; or

such other evidence of the individual’s receipt of relevant Commonwealth income support payments as is prescribed.

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.

For the purposes of subparagraph (1)(b)(ii), if an individual obtains evidence covered by subparagraph (1)(c)(i), the individual is, subject to evidence to the contrary, to be taken to have continued to have received the Commonwealth income support payment concerned for 21 days after the date of the written evidence.

In this section:

any of the following payments (as defined in section 23 of the Social Security Act 1991):

a social security benefit (other than an austudy payment or a youth allowance paid to a person who is undertaking full‑time study);

a social security pension;

a service pension;

an income support supplement; or

any other payment prescribed for the purposes of this definition.