Investors into capital projects always have a need for assistance!

4 August 2010

Investors into capital projects always have a need for assistance!

The list of DTI support programmes below includes some fresh from the oven programmes, as well as others that we feel you must know about due to their importance and high potential value.

  1. The manufacturing and tourism sectors are eligible for support under the EIP program. The program is now two years old and most of its teething problems have been resolved. The only tax-free grant at present, this support is available to new projects as well as expansions. We handle many of these applications and we stand ready to provide potential investors with expert advice.
  2. Fruit pack houses also enjoy the support offered under the EIP program mentioned above.
  3. The textiles industry is now receiving very real upgrade support through the Production Incentive Program. How does 10% of gross profit sound as a cash grant to spend on upgrade equipment, training, etc?
  4. The film industry is also enjoying good support. Next time you watch a South-African movie, check the credits at the end. You can be sure the DTI will be listed, thanks to their 25% to 35% contribution to production costs. Foreign film producers shooting in SA can also benefit.
  5. Large industrial projects looking for additional tax breaks can now qualify for the so-called Industrial Policy Projects allowance in terms of par. 12i of the tax act. This offers up to 55% additional tax deduction and is available to expansion projects from as small as R30 million and new projects from as small as R200 million. The program was recently approved by the Department of Finance.

The list goes on, for example, export promotion, call centres, product development, black business support, special low interest loans from IDC, etc. The DTI’s list of support programmes has indeed grown significantly during the past year or two, to such an extent that one can no longer cover it in one brief letter.

Dectra invites you to engage with us for expert advice and a professional opinion in writing, free of cost or commitment.

Theo Meintjes
Managing Director

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