Tax on Retirement Funds Act, 1996 (Act No. 38 of 1996)10. Notification of income allocated |
| (1) | Where an insurer has allocated any income to a retirement fund as contemplated in section 9, such insurer shall notify— |
| (a) | such retirement fund within 14 days of the last day of the relevant tax period; and |
| (b) | the Commissioner by not later than three months after the end of such tax period, of the amount of the income so allocated. |
| (2) | The allocation contemplated in subsection (1) shall be in such form as the Commissioner may require. |
| (3) | Where an insurer fails to comply with the provisions of subsection (1) or (2), the provisions of section 9 shall not apply. |