54.    Retirement benefits

 

A person must disregard any capital gain or capital loss determined in respect of a disposal that resulted in that person receiving-

 

(a)     a lump sum benefit as defined in the Second Schedule; or

 

(b)     a lump sum benefit paid from a fund, arrangement or instrument situated outside the Republic which provides similar benefits under similar conditions to a pension, pension preservation, provident, provident preservation or retirement annuity fund approved in terms of this Act.