Withdrawal of account balance—retirement on grounds of disability
65 Withdrawal of account balance—retirement on grounds of disability
Withdrawal request
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 satisfies the Commissioner of Taxation that the individual is not in employment; and
the individual last ceased to be an employee because of the disability of the individual; and
2 legally qualified medical practitioners have certified that the disability is likely to result in the individual being unable ever to be employed in a capacity for which the individual is reasonably qualified because of education, training or experience.
Form of withdrawal request
The withdrawal request must be:
in writing; and
in a form approved in writing by the Commissioner of Taxation.
Compliance with withdrawal request
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
The Special Account is debited for the purposes of making the payment.
Individual’s account to be debited
When the payment is made, the individual’s account is debited by the amount of the payment.
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