Regulatory Alerts2018-03-31
Information Circular 6 of 2014: Amendments to the Income Tax Act
The Financial Services Board directs retirement funds to reverse or withdraw rule amendments adopted in anticipation of Income Tax Act changes originally scheduled for 1 March 2015. National Treasury has deferred the implementation of the tax alignment and mandatory annuity requirements pending further NEDLAC consultations, potentially pushing the effective date to March 2016 or 2017. Funds with pending applications may request fee refunds, while those with approved amendments must submit reversing changes for free registrar approval to align their rules with the delayed timeline.
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