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

Regulations

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

Part VIII : Transactions not allowed

16A. Tax free investment with underlying performance fees not allowed

 

A product provider may not offer a financial instrument or policy as a tax free investment if any fee expressed as a percentage of the value of an investment is directly or indirectly commensurate with or linked to an amount received or accrued from an amount invested by the product provider with a person other than that product provider.

 

[Regulation 16A inserted by regulation 10 of Notice No. R. 309 of 2017]