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In the Draft Taxation Laws Amendment Bill, 2011 (the Draft Bill), released for public comment on 2 June 2011, a number of amendments were proposed in the context of long-term insurance policies taken out by Employers for the benefit of their employees and so called key-man insurance policies
In a less publicised step in circumstances where the Budget Speech may have enjoyed much more attention, National Treasury also released the final wording of regulation 28 dealing with the ability of pension funds to invest in certain assets
During the course of 2010 amendments were made that affected the tax treatment of employer-provided long-term insurance plans to counter perceived abuse by taxpayers
