The 12I Tax Incentive is designed to enable manufacturing businesses to benefit from a tax incentive for selective capital investments and training. The following types of manufacturing businesses can benefit from this incentive which is available until 31 December 2017: Please read the guidelines to see the types of businesses classified under the 3rd and 7th edition.
Businesses are able to deduct the following amounts from their taxable income Investment Allowance as show below:
The amount of tax deductions is determined by the points status of your business. A brief summary of how points are allocated is shown below. For a detailed understanding of how this point system works, please download the guidelines. This document outlines the types of projects that will be supported by this incentive.
Visit the DTI website to download the application forms and guidelines.
This incentive is available to businesses of all sizes and in all sectors of the economy as long as they are registered in South Africa. The research must be focused on science and technology as applied to any industry sector. The objective is to help companies build capabilities and innovations by creating new products, processes, devices and techniques, and/or significantly improving existing ones.
The incentive allows businesses to claim tax deductions of up to 150% for qualifying expenses. The list of expenses must be approved by the Department of Science and Technology prior to the commencement of the research. It is important that the application form for this incentive is submitted prior to the start of the research so that approval is obtained on the qualifying expenses.
Visit the Department of Science and Technology website and download the application form and guidelines. If you need assistance in completing the forms, you can set up an appointment with a representative from the Department.
Finfind provides its services free of charge to businesses seeking finance. Our primary purpose is to link SMEs with all the relevant finance providers and finance products that match their funding needs. As a matching service we are not required to be a registered finance provider as we do not loan money directly.