Document ID: chunk:federal_register_of_legislation:C2025C00161:section:62
Version: federal_register_of_legislation:C2025C00161
Segment Type: section
Provision Reference: s 62
Character Range: 55629–56962

62  Simplified outline
  The following is a simplified outline of this Division:

         • The balance of an individual's account may be withdrawn if:

                (a) the balance is less than $200; and
                (b) the individual has ceased to be employed by all depositors.

         • The balance of an individual's account may be withdrawn if the individual is in receipt of Commonwealth income support payments for a sufficient period.
         • The balance of an individual's account may be withdrawn if the individual has retired because of permanent disability.
         • The balance of an individual's account may be withdrawn if a terminal medical condition exists in relation to the individual.
         • The balance of an individual's account may be withdrawn if the individual has turned 65.
         • The balance of an individual's account may be withdrawn if the individual is at least 55 years old and is not an Australian resident for income tax purposes and:

                (a) the individual is not in employment; or
                (b) the individual is in employment, but the duties of the individual's employment are performed wholly or principally outside Australia.

         • The balance of an individual's account may be withdrawn if the individual is a former temporary resident.