Skip to main
Help and resources
Register
for My Account
Sign in
to My Account
Search
Australian Government
Federal Register of Legislation
Site navigation
Constitution
Acts
Legislative instruments
Notifiable instruments
Gazettes
Administrative Arrangements
Prerogative instruments
Norfolk Island
Home
Acts
In force
Text
Details
Authorises
Downloads
All versions
Interactions
Small Superannuation Accounts Act 1995
In force
Administered by
Department of the Treasury
Superseded version
View latest version
Order print copy
Save this title to My Account
Set up an alert
C2025C00047 (C01)
01 July 1995
-
01 June 1997
Legislation text
View document
Select value
Act
Filter active
Table of contents
Enter text to search the table of contents
Collapse
Part 1—Introduction
1 Short title
2 Commencement
3 Simplified explanation
4 Definitions
5 Crown to be bound
6 Act to be administered by the Commissioner of Taxation
Collapse
Part 2—Superannuation Holding Accounts Reserve
7 Simplified outline
8 Establishment of Superannuation Holding Accounts Reserve
9 Reserve is not a superannuation fund
10 Appropriation of Reserved Money Fund
Collapse
Part 3—Accounts
Collapse
Division 1—Simplified outline
11 Simplified outline
Division 2—Keeping of accounts
12 Accounts
Division 3—Outline of credits and debits to accounts
13 Outline of credits to accounts
14 Outline of debits to accounts
Division 4—Opening and closing of accounts
15 Opening of accounts
16 Closing of accounts
Division 5—Rules about accounts
17 Accounts may have a nil balance
18 One account per individual
19 Account balances not held on trust etc.
Division 6—Notification of account balances
20 Notification of opening balance
21 Individual may request details of account balance
22 Annual notification of account balance
23 Notification when account balance reaches $1,200
Collapse
Part 4—Deposits
24 Simplified outline
25 Deposits
26 Deposit to be accompanied by deposit form
27 Deposit to be made by employer or former employer
28 Deposit to be instead of superannuation contributions
29 Deposit to be consistent with other laws etc.
30 Age limit
31 Consequences of false declarations etc.
32 Deposit form may deal with multiple payments
33 Deposit not held on trust etc.
Collapse
Part 5—Crediting of deposits
34 Simplified outline
35 Crediting of deposits
Collapse
Part 6—Crediting of interest
Collapse
Division 1—Simplified outline
36 Simplified outline
Collapse
Division 2—Gross interest amount and net interest amount
37 Simplified outline
38 Gross interest amount
39 Net interest amount
Collapse
Division 3—Funding of interest
40 Simplified outline
41 Transfer of net interest amount from the Consolidated Revenue Fund to the Reserve
42 Unallocated Interest Pool
43 Supplementation of Unallocated Interest Pool
44 Re transfer of unallocated interest to the Consolidated Revenue Fund
Collapse
Division 4—Allocation day and allocation rate
45 Simplified outline
46 Gazettal of allocation day and allocation rate
47 Calculation of the allocation rate
Collapse
Division 5—Crediting of interest
48 Simplified outline
49 Accrual of interest on first $1,200 of daily balance
50 Rate of accrual, and crediting, of interest
51 Rounding up
Collapse
Division 6—Interest not to accrue in certain cases
52 Simplified outline
53 Interest does not accrue on refunded deposits
54 Interest does not accrue on shortfall components incorrectly credited to accounts
55 Amalgamated accounts—no interest if $1,200 limit avoided
Collapse
Part 7—Withdrawal of account balances
Collapse
Division 1—Simplified outline
56 Simplified outline
Collapse
Division 2—No withdrawals for 14 days after deposit credited to account etc.
57 Simplified outline
58 No withdrawals for 14 days after deposit credited to account etc.
59 No withdrawals for 14 days after shortfall component credited to account
Collapse
Division 3—Timing of withdrawals
60 Timing of withdrawals
Collapse
Division 4—Transfer of account balances to superannuation funds
61 Transfer to superannuation fund
Collapse
Division 5—Direct withdrawals of account balances by individuals
62 Simplified outline
63 Withdrawal of account balance of less than $500, where individual has ceased to be employed by depositor etc.
64 Withdrawal of account balance—severe financial hardship
65 Withdrawal of account balance—retirement on grounds of disability
66 Withdrawal of account balance—individual turns 65
67 Withdrawal of account balance—individual not an Australian resident
Collapse
Division 6—Withdrawals of account balances after death
68 Withdrawal of account balance—death of individual
Collapse
Division 7—Notification of refusal of requests
69 Notification of refusal of requests
Collapse
Division 8—Recovery of account balances
70 Recovery of account balances
Collapse
Part 8—Refunds of deposits
71 Simplified outline
72 Refunds—false or defective deposit forms etc.
73 Refunds—deposit made by mistake
74 Recovery of refunds
Collapse
Part 9—Inactive accounts
75 Simplified outline
76 No activity for 10 years
77 Register
Collapse
Part 10—Tax file numbers
78 Simplified outline
79 Individual may quote his or her tax file number
Collapse
Part 11—Review of decisions
80 Simplified outline
81 Reviewable decisions
82 Reconsideration of reviewable decisions
83 AAT review of Commissioner of Taxation’s decisions
84 Modification of the Administrative Appeals Tribunal Act 1975
85 Statements to accompany notification of decisions
Collapse
Part 12—Partnerships and unincorporated associations
Collapse
Division 1—Partnerships
86 Simplified outline
87 Treatment of partnerships
88 Giving of documents to partnerships
Collapse
Division 2—Unincorporated associations
89 Simplified outline
90 Treatment of unincorporated associations
91 Giving of documents to unincorporated associations
Collapse
Part 13—Miscellaneous
92 Delegation
93 Annual report
94 Regulations
95 Transitional—transfers from the Consolidated Revenue Fund
Collapse
Schedule—Employees and employers
1 Basic definition
2 Company directors
3 Contract workers
4 Members of the Parliament of the Commonwealth
5 Members of the Parliament of a State
6 Members of the ACT Legislative Assembly
7 Members of the Northern Territory Legislative Assembly
8 Performers and sportspersons etc.
9 Office holders etc.
Collapse
Endnotes
Endnote 1—About the endnotes
Endnote 2—Abbreviation key
Endnote 3—Legislation history
Endnote 4—Amendment history
