Document ID: chunk:federal_register_of_legislation:C2004A00952:clause:1_67a
Version: federal_register_of_legislation:C2004A00952
Segment Type: clause
Provision Reference: sch 1 cl 67A
Character Range: 10149–11422

67A  Withdrawal of account balance—permanent departure from Australia

Withdrawal request

 (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) the individual satisfies the Commissioner of Taxation that:
 (i) the individual was the holder of an eligible temporary residents visa that has expired or been cancelled; and
 (ii) the individual has permanently departed from Australia.

Form of withdrawal request

 (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

 (3) The Commissioner of Taxation must pay to the individual an amount equal to the account balance immediately before the payment is made.

Reserve to be debited

 (4) The Reserve is debited for the purposes of making the payment.

Account to be debited

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

Definitions

 (6) In this section:

eligible temporary residents visa has the same meaning as in the Superannuation Industry (Supervision) Regulations 1994.

Part 6—Application of amendments