The final dash to ensure that South Africans are making the most of the Section 12J action is well and truly on. Even if you don’t have the cash at hand, there are other options available.
On June 30, 2021, South Africans can wave the Section 12J tax incentive goodbye. There’s a reason so many shrewd investors are very sad to see the tax break bowing out.
February has come and gone, and so too has the 2020/2021 financial year, but now’s the time to plan for the future and shield yourself from the tax you haven’t paid yet.
The government’s announcement that it was killing Section 12J tax breaks has been met with much pushback. Thankfully, there’s still one more chance to max out your refund before it ends.
There’s a great deal of buzz around Section 12J of the Income Tax Act, and that’s worth a closer look.