How to claim your 12J deduction
Tax filing season for individuals for the tax year ended 28 February 2020 is open
As an individual who invested in Fundamental VCC, you will be able to claim your Section 12J deduction by following the steps below:
Step 1: Collate your Fundamental VCC Investor Certificate which was sent to you by Fundamental. You should have received one certificate for each investment made in the tax year.
Step 2: Login onto your SARS Efiling account. (https://www.sarsefiling.co.za/)
Step 3: Under the Form Wizard, click on the Comprehensive section where you will be prompted to answer if you made any investments in a Venture Capital Company. Click yes. If you did more than one investment enter the number of investments you made. Each investment must have its own Investor Certificate.
Step 4: Fill the name of the SARS approved VCC, the subscription date, the VCC number and the amount you invested. This information must be the same as on your certificate.
Step 5: Complete the remainder of your tax return and submit any proof required by SARS (including your VCC Investor Certificate if requested)
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This Privacy Statement describes the ways in which we, Boxcars Dozen Proprietary Limited t/a Fundamental VCC (“Fundamental”), collect, hold and use information about individual persons who utilise systems implemented and used by Fundamental.
Pledge on Privacy
The next sections explain how and when we collect Personal Data.
Intended use of Personal Data
Some services may require customers to provide us with Personal Data. In these situations, if customers choose to withhold any Personal Data requested by us, it may not be possible for them to gain access to certain parts of Fundamental’ sites/apps and for us to respond to their queries.
We may collect and use Personal Data to provide customers with products or services, to bill them for products and services they request, or to communicate with them for other purposes which are evident from the circumstances or about which we inform them when we collect their Personal Data.
Non-disclosure of Personal Data
Right of Access, Correction and Objection
Whenever we process Personal Data, we take reasonable steps to ensure that customers’ Personal Data is kept accurate and up-to date for the purposes for which it was collected. We will provide customers with the ability to object to the processing of your Personal Data if such processing is not reasonably required for a legitimate business purpose as described in this policy or our compliance with law. Requests to delete personal data will be subject to any applicable legal and ethical reporting or document filing or retention obligations imposed on us.
Security and Confidentiality
To ensure the security and confidentiality of Personal Data that we collect on systems, we use data networks protected, inter alia, by industry standard firewall and password protection. In the course of handling customers Personal Data, we take measures reasonably designed to protect that information from loss, misuse, unauthorized access, disclosure, alteration or destruction.