Status Update on the Two Pots Reform Proposal

Members are informed that an opportunity for public submissions in light of the ongoing review of the proposal by National Treasury on the “Two Pot System” has been opened. Members wishing to contribute to the draft proposal must send their contributions as follows: Due date for public comments on the 2022 Draft Revenue Laws Amendment Bill National Treasury hereby invites comments in writing on the 2022 Draft Revenue Laws Amendment Bill and all other draft tax bills. Please forward written comments to the National Treasury’s tax policy depository at 2022AnnexCProp@treasury.gov.za and SARS at acollins@sars.gov.za by close of business on  29 August 2022.  Comments and queries on the proposed two pot system should also be sent to retirement.reform@treasury.gov.za

For the full media statement from National Treasury please find it below

Amalungu aziswa ngethuba elivelele umphakathi ukuthi wenze ezawo iziphakamiso ekubuyekezweni kwesiphakamiso segatsha lezezimali zikahulumeni okuqhubekayo, esimayelana nemvume ezovulelwa amalungu yokuthatha ingxenye yezimali zawo ngaphambi kwempesheni phecelezi,“Two Pot System”. Amalungu afisa ukuthumela imibono yawo kulesethulo angathumela izimvo zawo kulemininingwane engezansi:

Usuku olungumnqamula juqu wokuthumela imibono mayelana nomthetho sisekelo kanyaka ka 2022 osacutshungulwa okhuluma ngemithetho yokuphathwa kwemali, “Draft Revenue Laws Amendment Bill” Igatsha lezimali likaHulumeni limema imibono ebhalwe phansi ngokubuyekezwa komthetho sisekelo wemithetho yokuphathwa kwezimali ka 2022 kanye neminye imithetho yentela ebuyekezwayo. Sicela uthumele imibono ebhalwe phansi kwisikhwanyana esengamele inqubomgomo yentela yegatsha lezimali zikaHulumeni kulelikheli 2022AnnexCProp@treasury.gov.za kanye nekheli labezentela acollins@sars.gov.za  ngokuphela kwesikhathi somsebenzi mhlaka 29 August 2022.  Imibono nemibuzo mayelana nesiphakamiso se “two pot system” kungathunyelwa futhi kulelikheli retirement.reform@treasury.gov.za.