Region
Gauteng

Sector
Construction & Materials
Infrastructure
Manufacturing
Property

Summary:

The Joburg Urban Development Zone is offering a tax incentive to potential investors interested in South Africa's second gold rush

Contact
Lebo Ramoreboli

Email
lebor@joburg.org.za

Tel
+27 11 358 3437

The Urban Development Zone tax incentive is a new tax incentive scheme aimed at encouraging inner city renewal across South Africa. Any taxpaying, property-owning individual or entity may claim the tax benefits of the UDZ incentive. The incentive takes the form of a tax allowance covering an accelerated depreciation of investment made in either refurbishment of existing property or the creation of new developments within the inner city, over a period of either five, or seventeen years, respectively.

For a quick guide to the Urban Development Zone tax incentive for the Johannesburg inner city, frequently asked questions regarding the incentive, the process involved with applying for the incentive and the legal issues involved, visit the Joburg UDZ website.

Investment in the Joburg UDZ has topped the R2-billion mark since inception, and property owners and developers are reaping big tax benefits.

For more information visit www.joburg.org.za/udz