S12J sunset clause — industry urges Treasury not to throw baby out with the bathwater

As Covid-19 causes our fiscal deficit to bulge even further, perhaps a little less than anticipated thanks to the recent better than expected tax take numbers for November and December, what role should and could incentives such as Section 12J play in supporting smes through this crisis and int the recovery phase? The question is being asked ahead of the budget and expected news on the sunset clause which is June 31st and whether the incentive will be extended. Clearly, the industry is lobbying hard for an extension because managers make fees on the underlying assets under management but there have also been eyebrows raised as some managers have continued to raise funds while existing funds remain undeployed. Michael Avery hosted Darryn Faulds, MeTTa Capital Fund Manager, Anil Govind, Executive Director of Innovate Alternative Assets, & Dino Zuccollo, chairman of 12J Association of South Africa.