Intellectual Property Rights from Publicly Financed Research and
R 385
Income Tax Act, 1962 (Act No. 58 of 1962)SchedulesSecond ScheduleTransfer on or after normal retirement age but before retirement date: Deductions |
| 6A. | The deduction to be made from a lump sum benefit contemplated in paragraph 2(1)(c) is equal to so much of that lump sum benefit as is transferred for the benefit of a person from a— |
| (a) | pension fund into a pension preservation fund, provident preservation fund or a retirement annuity fund; |
[Paragraph 6A(a) of the Second Schedule substituted by section 42(1) of the Taxation Laws Amendment Act, 2020 (Act No. 23 of 2020), GG44083, dated 20 January 2021 - comes into operation on 1 March 2021 (section 42(2)]
| (b) | provident fund into a pension preservation fund, provident preservation fund or a retirement annuity fund; |
| (c) | pension preservation or provident preservation fund into another pension preservation or provident preservation fund or a retirement annuity fund. |
[Paragraph 6A(c) of the Second Schedule inserted by section 35(1) of the Taxation Laws Amendment Act, 2021 (Act No. 20 of 2021), Notice No. 770, GG45787, dated 19 January 2022 - comes into operation on 1 March 2022 and applies in respect of years of assessment commencing on or after that date (section 35(2))]
| 7. | [Paragraph 7 of the Second Schedule repealed by section 65(1) of the Revenue Laws Amendment Act, 2008 (Act No. 60 of 2008) - effective 1 March 2009] |
