Flyt Property Investment, a Cape-based property development and investment team in partnership with Steven Herring, chairman of Heriot REIT Ltd, have announced the launch of the re-developed, award-winning One Thibault.
Looking to broaden their hospitality offering into South Africa, WINK Aparthotels has been acquired by Afrirent Holdings (Pty) Ltd.
Property sales in the first quarter of 2021 enjoyed a significant boost thanks to SARS’ Section 12J tax incentive.
Cape-based Flyt Property Investment has announced the official launch of Quivertree, a trendy new property offering in the university town of Stellenbosch.
The talk on the hospitality street is what Level 1 is going to do for the industry – how has lockdown affected the hotel landscape and its offering, will it recover, and what does the future hold?
Moving into Level 1 of lockdown we have started to see signs of what appears to be normality returning as we collectively breathe a sigh of relief (without steaming up our sunglasses).
Cape-based Flyt Property Investment has recently announced an inventive means for South Africans to take advantage of Government’s Section 12J tax incentive when the chips are down.
WINK, a self-catering aparthotel located in the heart of the Mother City in Cape Town, has opened up 30 fully furnished, sanitised studio apartments for
Flyt Property Investment’s recently launched Eaton Square in Diep River has made units available to those affected by COVID 19. These new, furnished apartments have
The close of the 2020 financial year this February brought a scramble of last-minute investors through the Section 12J gates, angling for that most welcomed
APPLIED INGENUITY
Section 12J of the Income Tax Act – the most efficient tax saving tool, provided by SARS and government that allows you to hold on to your tax cash while investing it wisely.
The section specifically aims to help the growth of small and medium sized businesses by increasing their access to equity finance. To attract investors into this typically under-funded sector, which is imperative for driving economic growth, SARS has written Section 12J into the Tax Act, which offers taxpayers a 100% tax deduction in the year of investment if they invest in SMMEs by way of subscription of shares in a Section 12J Venture Capital Company.
Flyt’s Section 12J compliant property developments give investors the full 12J tax deduction, allowing them to put this saving/refund towards their property purchase. This means that SARS will effectively fund up to 45% of the purchase price of the property.
