Tax on Retirement Funds Act, 1996 (Act No. 38 of 1996)

9. Allocation by insurer of income to retirement fund
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Where a retirement fund, which participates in the untaxed policyholder fund of an insurer, has had income allocated to it by such insurer during a tax period, such income shall be—

(a)included during such tax period in the retirement fund's taxable amount by way of symbol "H" in accordance with the formula contemplated in section 5; and
(b)excluded, during the tax period of the insurer in which the allocation was so made, from such insurer's untaxed policyholder fund by way of symbol "B" in accordance with the formula contemplated in section 4.