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

Schedules

Second Schedule

Transfer 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 or a retirement annuity fund; or
(b) provident fund into a pension preservation fund, provident preservation fund or a retirement annuity fund.

[Paragraph 6A of the Second Schedule substituted by section 66(1) of the Taxation Laws Amendment Act, 2018 (Act No. 23 of 2018), GG 42172, dated 17 January 2019 - effective 1 March 2019 (section 66(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 [Paragraph 7 of the Second Schedule repealed by section 65(1) of the Revenue Laws Amendment Act, 2008 (Act No. 60 of 2008) - effective 1 March 2009]