|10 Feb 2021|
|Francois van Zyl|
12Cape Limited is a public company and an approved Section 12J Venture Capital Company. Investors that acquire shares in 12Cape can deduct their full investment amount (limited to R2.5m per individual/trust) from their taxable income in the year in which they invest. A Section 12J deduction is arguably the best deduction available to individuals looking to lower their effective tax rates.
12Cape uses the funds to purchase 1- and 2-bedroom apartments in the Atlantic Seaboard at scale and these apartments are operated as aparthotels under the 12Cape owned Latitude Aparthotels brand (www.staylatitude.co.za). The flagship asset is the Latitude Aparthotel Sea Point that has been operational since November 2019 which, in spite of Covid-19, had a median occupancy of 82% during 2020.