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