National Treasury, and the South African Revenue Service (Sars) released the revised 2023 Draft Revenue Laws Amendment Bill and the 2023 Draft Revenue Administration and Pension Laws Amendment Bill late last week for public review and feedback. If you have a pension, provident or retirement annuity fund, and you haven’t heard of the “two-pot” system, read this to get a better understanding of the changes to be implemented from March 1, 2024.
Treasury has invited comment, in writing, on these bills, which need to be submitted to Parliament by close of business on July 15.
These draft bills include the necessary legal changes
