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

5. Pre-existing financial instrument or policy may not be coverted
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An issuer may not reclassify or convert a pre-existing financial instrument or policy owned by an investor as a tax free investment in respect of that investor.