Acts Online
GT Shield

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 II : Issue of financial instrument and policy

3. Advertising of tax free investment

 

(1) A product provider must advertise a tax free investment as being a tax free investment by virtue of section 12T of the Income Tax Act when members of the general public are invited to invest therein.

 

(2) When a product provider advertises a tax free investment as contemplated in subregulation (1), the designation of the instrument or policy that constitutes the tax free investment must contain the words "tax free".

 

(3) If a product provider advertises a tax free investment as contemplated in subregulation (1) and that tax free investment consists of a financial instrument or policy with a fixed term and a guaranteed return the product provider must stipulate the rate of return of that tax free investment as calculated in accordance with regulation 10A in that advertisement.

[Subregulation (3) inserted by regulation 3 of Notice No. R. 309 of 2017