Section 12 J Tax Certificates
A Section 12J tax certificate can only be issued by a registered Venture Capital Company registered with SARS. Grovest was registered with SARS as a Venture Capital Company on 25 February 2013.
An investor into Grovest, wether an individual, trust or company, is entitled to a tax benefit of 100% of the investment made into the Venture Capital Company. Once the funds have been received by the Venture Capital Company , it will issue will issue a Sec 12 J tax certificate .
The Section 12J certificate will include the full name of the taxpayer, the year in which the investment was made into the Venture Capital Company, the amount of the investment made into the Venture Capital Company, as well as tax registration number of the tax payer.
The Section 12 J certificate should be filed away together with all other tax certificates in a safe and accessabile place, as SARS are entitled to request proof of the Sec 12J certificate if required by them.
Grovest will issue Section 12J certificates to shareholders within 6 weeks of receipt of funds.