Special Investigating Units and Special Tribunals Act, 1996
R 385
Income Tax Act, 1962 (Act No. 58 of 1962)RegulationsRegulations in terms of section 12T(8) of the Income Tax Act, 1962, on the requirements for Tax Free InvestmentPart VI : Fees11. Fees in respect of tax free investment |
| (1) | Any fee charged in respect of a tax free investment must be reasonable. |
| (2) | A product provider may only charge a fee that is expressed as a percentage of the value of the tax free investment that is not— |
| (a) | directly or indirectly commensurate with or linked to the amount received by or accrued to the investor in respect of any tax free investment other than any amount repaid to the investor that was contributed in respect of the tax free investment; or |
| (b) | calculated with reference to the period of time for which the tax free investment is held by the investor other than a fee referred to in regulation 12. |
| (3) | If an investor must make repetitive payments of amounts at regular intervals in terms of a tax free investment, an issuer may not charge any fee if that investor— |
| (a) | does not pay all of those amounts; |
| (b) | ceases to pay those amounts; |
| (c) | pays any amount less than any of those amounts; |
| (d) | pays a part of the sum of all those amounts; or |
| (e) | pays the sum of all those amounts. |
