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Income Tax Act, 1962 (Act No. 58 of 1962)


Regulations in terms of section 12T(8) of the Income Tax Act, 1962, on the requirements for Tax Free Investment

Part II : Issue of financial instrument and policy

5. Pre-existing financial instrument or policy may not be coverted


An issuer may not reclassify or convert a pre-existing financial instrument or policy owned by an investor as a tax free investment in respect of that investor.