(1)       For the purposes of this section-

 

“qualifying annuity” means the amount of the retirement interest of a person payable in the form of an annuity (including a living annuity)-

 

(a)     as contemplated in paragraph (ii)(dd) of the proviso to paragraph (c) of the definition of “pension fund”;

 

(b)     as contemplated in paragraph (e) of the proviso to the definition of “pension preservation fund”;

 

(c)     as contemplated in paragraph (b)(ii) of the proviso to the definition of “retirement annuity fund”;

[Paragraph (c) amended by section 12(1)(a) of Act 23 of 2020 effective on 1 March, 2021]

 

(d)     as contemplated in paragraph (ii)(dd) of the proviso to the definition of “provident fund” in section 1(1);

[Paragraph (d) substituted by section 12(1)(b) of Act 23 of 2020, by section 7(1) of Act 20 of 2022 effective on 1 March, 2021 and by section 2(1)(a) of Act 12 of 2024 effective on 1 September, 2024 and applicable in respect of years of assessment commencing on or after that date]

 

(e)     as contemplated in paragraph (e) of the definition of “provident preservation fund” in section 1(1); or

[Paragraph (e) added by section 12(1)(c) of Act 23 of 2020 and substituted by section 2(1)(b) of Act 12 of 2024 effective on 1 September, 2024 and applicable in respect of years of assessment commencing on or after that date]

 

(f)      as contemplated in paragraph (ii) of the further proviso to the definition of “pension fund” in section 1(1);

[Paragraph (f) added by section 2(1)(c) of Act 12 of 2024 effective on 1 September, 2024 and applicable in respect of years of assessment commencing on or after that date]

 

(g)     as contemplated in paragraph (d) of the definition of “retirement component” in section 1(1); or

[Paragraph (g) added by section 2(1)(c) of Act 12 of 2024 effective on 1 September, 2024 and applicable in respect of years of assessment commencing on or after that date]

 

(h)     as contemplated in paragraph (ii) of the further proviso to the definition of “provident fund” in section 1(1).

[Paragraph (h) added by section 2(1)(c) of Act 12 of 2024 effective on 1 September, 2024 and applicable in respect of years of assessment commencing on or after that date]

[Definition of “qualifying annuity”, previously definition of “compulsory annuity” amended by section 16(1) of Act 43 of 2014 and substituted by section 14(1)(b) of Act 34 of 2019 effective on 1 March, 2020 and applicable in respect of any contributions made to a provident or provident preservation fund in determining the taxable annuity received during any year of assessment from such fund in relation to annuities received on or after 1 March, 2020]