[imagesource: Flyt Property Investment]

On June 30, the Section 12J tax incentive expires, and with it your last chance to benefit from this remarkable tax opportunity.

Section 12J of the Income Tax Act was introduced in 2009 to encourage South African taxpayers to invest in local companies and receive a 100% tax deduction of the value of their investment.

Flyt Property Investment has two Section 12J compliant property developments in Cape Town, and when investing in either, you can get a tax refund of up to R450 000 for every R1 million invested.

The first is One Thibault, the tallest residential development in Cape Town, offering a varied range of apartments.

You can invest in One Thibault through the Flyt Select Fund, offering bespoke luxury apartments ranging in size from floors 15 through 20, and starting from R895 000.

The 180 serviced apartments are fully managed by an on-site team, WINK Aparthotels, and investors have access to a host of benefits, including:

• Furnished apartments at no additional cost
• Quality tenants who ‘tick all the boxes’
• Lower financial risk
• Higher returns due to managed serviced apartments solution
• No admin

For the first year, there is also guaranteed income, with a rental guarantee of 6%.

If you are more interested in living in the apartment, units can be purchased on a normal sectional title basis as well.

The second Section 12J compliant development is Upper East Side, a trailblazer of the revitalised Salt River suburb, strewn with cafés brewing artisan coffee, cool craft breweries, hip eateries, and trendy boutiques and art galleries.

Direct ownership in the mixed-use precinct on Brickfield Road is now on offer to property investors. 183 studio and one-bedroom sectional title units are available exclusively through the Flyt Select Fund, ranging in price from R734 000 to R3 534 000.

Investors will also enjoy a five-year guaranteed return of 7,5% (after all property-related expenses).

Units will be fully managed by Multi Rooms Management, and owners will also benefit from seven days use, at up to 30% discount on accommodation rates, throughout the year.

You can find more info on One Thibault here, and Upper East Side here.

For those who don’t have money for the initial investment on hand, there’s 100% financing available.

We really are entering the twilight days of Section 12J, and you only have until June 30 to act. If you’re keen to take advantage of this opportunity, get in touch with Flyt Property Investment here and they can guide you through the process.