SMALL SUPERANNUATION ACCOUNTS ACT 1995

PART 7 - WITHDRAWAL OF ACCOUNT BALANCES  

Division 5 - Direct withdrawals of account balances by individuals  

SECTION 65A   WITHDRAWAL OF ACCOUNT BALANCE - TERMINAL MEDICAL CONDITION  

Withdrawal request

65A(1)  
This section applies to an individual ' s account if:


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


(b) a terminal medical condition (within the meaning of the Income Tax Assessment Act 1997 ) exists in relation to the individual. Form of withdrawal request

65A(2)  
The withdrawal request must be:


(a) in writing; and


(b) in a form approved in writing by the Commissioner of Taxation. Compliance with withdrawal request

65A(3)  
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

65A(4)  
The Special Account is debited for the purposes of making the payment. Individual ' s account to be debited

65A(5)  
When the payment is made, the individual ' s account is debited by the amount of the payment.




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