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

Notices

2020 Notices

Amount of Value of Assets that may be paid in lump sum for purposes of paragraph (c) of Definition of Living Annuity in Section 1(1) of the Income Tax Act, 1962

Notice No. 619 of 2020
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Notice No. 619

1 June 2020

GG 43380

 

National Treasury

 

I, Tito Titus Mboweni, Minister of Finance, hereby withdraw all previous notices issued in terms of paragraph (c) of the definition of "living annuity" in section 1(1) of the Income Tax Act, 1962 (Act 58 of 1962) and prescribe that the amount referred to in paragraph (c) of the definition of "living annuity" in section 1(1) of the Income Tax Act, 1962, must be an amount of R125 000.

 

 

TT Mboweni

Minister of Finance

Date: