12J Association calls for extension of tax deductions for SMME investors
The Section 12J Association of SA says investments have directly created more than 10,500 jobs, including in rural areas
19 November 2020 - 13:01
An association of asset management companies is calling on President Cyril Ramaphosa to reassure local investors on the future of an incentive that provides them with a tax deduction in exchange for investing in small, medium and micro enterprises (SMMEs) in selected industries.
Section 12J investments were first introduced by the government in 2009 and may soon end as a result of a “sunset clause” in the Income Tax Act, which only makes provision for such investments until the end of June 2021...
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