Who should complete this application?
You or your authorised representative should complete this application if you want to request a withdrawal of the superannuation holding accounts (SHA) special account entitlement held by us.
You can only apply for a withdrawal if one of the following applies:
- you have retired due to permanent disability
- you receive Australian Government income support payments (which you have received for a sufficient period) as outlined in section C on the form
- you are 65 years of age or older
- you are at least 55 years of age and are not a resident of
- Australia and are
- not in employment, or
- in employment but your duties are performed wholly or principally outside Australia
- you are the legal personal representative of the account holder who is deceased
- you were a holder of a temporary visa that has ceased to be in effect (for example, expired or been cancelled), and have left Australia
Former temporary residents can also apply by using the online departing Australia superannuation payment (DASP) system. Visit our website at www.ato.gov.au for more information.
You can only withdraw the full account balance from the above categories. The direct payment is taxed as a super lump sum element untaxed in the fund. However, where a payment is made to the holder of a temporary visa because they left Australia and the visa has ceased to be in effect, the payment is a departing Australia superannuation payment (DASP) and tax is withheld at the time of payment.
End of attention
- you have ceased employment with all employers who have deposited amounts on your behalf in the SHA special account and the balance of your account is less than $200. (If your SHA special account entitlement includes a super co‑contribution amount, you cannot withdraw the super co‑contribution amount or any interest accrued on it.)
If your circumstances do not match any of the withdrawal categories listed, you are not eligible to withdraw your SHA special account entitlement. You can, however, have your account balance transferred to a complying super fund or retirement savings account that will accept it.
Tax-free payment for terminal medical condition applicants
The terminal medical condition provision applies if:
- two registered medical practitioners (with at least one being a specialist practicing in the area related to the illness or injury) have certified that you suffer from an illness or have incurred an injury that is likely to result in your death within a 12-month period
- the certificates are less than 12 months old.
If you qualify for a withdrawal from the SHA special account and you have a terminal medical condition, your payment is generally tax-free.
You need to attach certified copies of the relevant medical certificates to your application if you have a terminal medical condition and are making the withdrawal request under one of the categories listed on page 1. Where you have retired due to permanent disability, attach certified copies of medical certificates covering both requirements.
Last modified: 04 Dec 2014QC 16320
Former temporary residents who apply for withdrawal because of permanent departure from Australia are not eligible for a tax-free payment.
End of attention