section 12J

RMB’s Matete Thulare talks the local currency, Sunette Mulder of Asisa on record inflows into CISs and Dino Zuccollo from the 12J Association on the sunset clause and the ins and outs of 12J investing.

In light of the conference, the 12J Association of South Africa has written to President Cyril Ramaphosa, calling on him…

The Section 12J Association of SA says investments have directly created more than 10,500 jobs, including in rural areas An…

Student housing has become an asset classes set to provide double-digit returns in the coming years with SA short of…

Background CuraFin Management Company (Pty) Ltd (“CuraFin”) is a company that creates, delivers and manages Owner-Driver Programmes using fleet and…

Proposed amendments to Section 12J of the Income Tax Act, which provides a generous tax incentive for South Africans investing in venture capital schemes, have drawn criticism from the 12J Industry Association of South Africa.

Last week, the 2019 Draft Taxation Laws Amendment Bill (TLAB) was released and contains proposed amendments to certain elements to the Section 12J tax incentive. The major proposed TLAB amendment reintroduces a limitation on the amount an investor can deduct from taxable income in respect of a particular year of assessment. It has been proposed that the tax deduction for an investment in a Section 12J company be limited to R2.5 million per investor per annum effective from 21 July 2019.

A conference this week examined one of the trickiest issues of our day: why is it proving so difficult to mobilise retirement funds to aid social upliftment? Meanwhile, inequality is rising and threatening to become a political time bomb, environmental crises are increasing, tax revolts are looming, and levels of violent social unrest could become unmanageable. Is there a solution? Cue impact investing.

Dino Zuccollo, S12J fund manager at Westbrooke Alternative Asset Management who is a founding member of the S12J Association of South Africa says, “We see increased growth each year from our now more than 700 passive investors. We raised R420m in 2016, R470m in 2017, R565m in 2018, of which over R900m has been invested into small/medium sized business across South Africa. We are very pleased with our 2019 raise of more than R750m. Our 2019 fundraise was in line with our targets and we were able to solidify our position as South Africa’s largest S12J asset manager. This highlights investors’ growing interest in this asset class and confirms that National Treasury’s intention to encourage investment in the SA economy and to stimulate job creation is on track.”

Section 12J fund manager Dino Zuccollo sat down with CNBC Africa’s Arnold Segawa to discuss the Section 12J tax incentive