The legislation applies to taxpayers who receive multiple sources of income, one of which is from a retirement fund.
Note, where a taxpayer receives a salary and an annuity, such taxpayers are also included under this legislation:
Example:
A young widow that is employed as an educator by the dept of education and receives a salary. In addition, she receives a spousal pension payment from the departed spouse’ pension fund.
Such a person will be included under this legislation
