President Cyril Ramaphosa is on a mission to secure R1.4 trillion in foreign direct investments for South Africa.
Next week Thursday a three-day investment summit kicks off, aimed at reaching Ramaphosa’s target.
Ramaphosa is missing a trick and should look closer to home where R1 trillion is sitting idly on company balance sheets, argues Darryn Faulds, a fund manager at Grovest Group.
Faulds points to Section 12J investments as a pathway to unleash this capital.
The Income Tax Act allows investors into Section 12J compliant Small-to-Medium Enterprises to deduct 100% of their investments from their taxable income.
Potentially, for those in the top tax bracket, it could slash your tax bill by 45%.
The Money Show’s Bruce Whitfield interviewed Faulds.
Listen to the interview in the audio below.
