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Cape Town - The National Treasury will shortly publish final amendments to tax free savings accounts regulations for the year beginning 1 March 2017, it said in a statement on Tuesday.
"The amendments spell out a process for transfers, clarify the policy position on performance fees in underlying funds, give guidance on the adequate and consistent disclosure of returns to fixed deposit tax free savings accounts, include various provisions to enable the regulator to adequately oversee product offerings, align the rules of access for fixed deposits and include Postbank as a product provider."
Treasury said the ability of investors to transfer will be postponed to 1 March 2018 to allow product providers sufficient time to prepare for more onerous responsibilities in assisting investors to comply with the annual and lifetime limits.
