New limits for Section 12J investments will up capital flight and joblessness
Short-sighted approach will hit local SMEs that would have been beneficiaries of additional investment capital after assets under management doubled in a year
In the past financial year the Section 12J investment class not only attracted the attention of SA taxpayers aiming to reduce their income or capital gains tax liabilities, but also that of the Treasury. This was mostly due to the large value of investments made by SA taxpayers into Section 12J investments.
Assets under management in the Section 12J investment class doubled in just one year through the investment of more than R3.7bn by South Africans, bringing total assets under management to about R7bn. ..
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.