Do you know about Section 12J of the Income Tax Act No. 58 of 1962?
It was legislated by the South African Government to encourage South African taxpayers to invest in local companies and receive a 100% tax deduction of the value of their investment. The investor in return receives a Section 12J tax certificate and Venture Capital shares. The invested amount can be deducted from the investor’s taxable income, in the year the investment is made.
Whether you’re interested in setting up, looking for someone to finance or administer your venture capital company (VCC), Grovest can be your innovative Section 12J specialist, corporate advisory and finance partner.
As they continue to pioneer the Section 12J landscape, we’ve teamed up with Grovest for monthly advice on The Gareth Cliff Show on all things related to Section 12J investments.
In 2014, Grovest pioneered the first Section 12J fund. Since then they have administered over 40 funds, and are promoters of 9 of our own funds, including MeTTa Capital Limited and Mdluli Safari Lodge Limited. They were the first venture capitalists to be part of the Section 12J story, when it all began, and have grown over the past 7 years to be at the forefront of the exponential growth of the Section 12J industry. What began as a tax break in 2014 has now become one of the leading investments strategies today.
Which industries do the Section 12J deal with, and what type of businesses are you not able to invest in? Have you ever heard of impact investing? Learn about how you can do this with Grovest on this edition of the Section 12J show.
Do you know about Section 12J of the Income Tax Act No. 58 of 1962? Jeff Miller from Grovest pops in to The Gareth Cliff Show to educate us on what a Section 12J investment is. Find out how it works, the different types of investments, and get informed on all the dos and don’ts.