By Alec Hogg
Another milestone for BizNews yesterday when we christened our new Cape Town studio home on the top floor of 12Cape’s Latitude Aparthotel in Sea Point. With Piet Viljoen and John Steenhuisen in attendance, it was a day to remember.
The occasion was also a reminder of how the best business partnerships are built on loyalty and mutual benefit. Our relationship with 12Cape began with explaining the now ended 12J tax incentive opportunity to the BizNews tribe. It was one of those rare ‘no brainers’ which has rewarded investors handsomely – and benefitted the country by keeping capital here to grow jobs and multiply business activity.
___STEADY_PAYWALL___Sadly, blinkered Treasury officials decided the tax benefits were too appealing, so killed one of SA’s few tax-driven investment schemes just as it was finally starting to attract serious money. They ignored the multiplier effect of cash which had previously been channelled offshore went into productive, job-creating projects here.
It’s a pity those bureaucratic tzars never investigated a successful 12J offering like the Latitude, whose apartments are fully booked throughout the whole of February and where the shared office space – where our studio is housed – is buzzing.
The Latitude investment has created dozens of direct and indirect jobs while those in our tribe who injected the ready have also done well. A virtuous circle providing a blueprint that should have been used to create much bigger things. What a shame Pretoria’s mandarins got in the way. Roll on 2024.
Read more:
- SA cannot be testing ground for Russian weapons – Herman Mashaba. ActionSA leader says the joint military exercise between Russia, China and SA will amount to a propaganda exercise. Click Here
- Thomas Kuhn: The Structure of Scientific Revolutions – “The decision to reject one paradigm is always simultaneously the decision to accept another, and the judgment leading to that decision involves the comparison of both paradigms with nature and with each other.” Click Here
- From Vitaliy Katsenelson’s ContrarianEdge newsletter: Why we’re not celebrating the vindication of our investing principles. Click here
