Notices > 2021 Notices > Notice in terms of paragraph (b)(x)(cc) of the proviso to definition of "retirement annuity fund" in section 1 of the Income Tax Act, 1962 (Act No 58 of 1962)

Notice No. 474

28 May 2021

GG 44640

National Treasury

MINISTER OF FINANCE

I, Tito Titus Mboweni, Minsiter of Finance, hereby—

(a)	withdraw all previous notices issued in terms of paragraph (b)(x)(cc) of the proviso to the definition of "retirement annuity fund" in section 1 of the Income Tax Act, 1962 (Act 58 of 1962) with effect from 1 March 2021; and

(b)	prescribe that the amount contemplated in paragraph (b)(x)(cc) of the proviso to the definition of "retirement annuity fund" in section 1 of the Income Tax Act, 1962, must be an amount of R15 000 with effect from 1 March 2021.

TT Mboweni

Minister of Finance

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