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 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.

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.