Will the r9 280 support all of the features of directx 12?

No, at this point, only Nvidia's Maxwell 2 cards are capable of supporting Conservative Rasterization and Rasterizer Ordered Views.
http://forums.anandtech.com/showthread.php?s=5589b14be91ab35189af5a8b91cf6c20&t=2425942
https://forum.beyond3d.com/threads/direct3d-feature-levels-discussion.56575/page-4#post-1833996
https://msdn.microsoft.com/en-us/library/dn903791(v=vs.85).aspx
https://msdn.microsoft.com/en-us/library/dn903929(v=vs.85).aspx
http://www.pcgamer.com/directx-12s-new-rendering-features-are-coming-to-directx-11-3-too/

Quote:
"According to Microsoft’s Max McMullen, 12.0 exposes a lot of the API’s CPU-oriented performance advantages, while 12.1 adds Conservative Rasterization and Rasterizer Ordered Views (ROVs) for more powerful rendering algorithms."
http://www.tomshardware.com/reviews/nvidia-geforce-gtx-titan-x-gm200-maxwell,4091.html

Quote:
"This feature is technically possible in existing hardware, but the performance of such an implementation would be very low as it’s essentially a workaround for the lack of necessary support in the rasterizers. By implementing conservative rasterization directly in hardware, Maxwell 2 will be able to perform the task far more quickly, which is necessary to make the resulting algorithms built on top of this functionality fast enough to be usable."
http://www.anandtech.com/show/8526/nvidia-geforce-gtx-980-review/4
 
I wasn't sure whether to buy or not buy a new gfx card last year because of direct x 12 support, until someone convinced me that direct x 12 will be supported on then current gen gpus linking to a Microsoft article. Oh well....
 
There's a quote out there where a Microsoft developer was asked if people will need a new video card for DirectX 12. He point blank said, "yes".
http://www.polygon.com/2015/1/22/7874793/directx-12-wont-require-a-new-graphics-card-after-all

Just about every recent vintage card can do DirectX 12.0 through software, but specialized hardware is necessary for the extra features in DirectX 12.1 (not its true name). It's pure speculation as to what kind of impact that will have in real life, but I would be surprised if it didn't pose some sort of limit at some point over the next year or two.
 


I think he meant whether there will be a new card with similar performance to the 280 and with dx12 support which will probably be the case.
 
R9 390X/390 probably not. But anything lower than that probably not really exciting. I've already heard rumor that all R 300 series will be launch on june 18th and 390X/390 will be on june 24th. Just my own speculation but if that really the case then 380X and below probably just a rebrand of current 200 series which some of them are rebrand of 7k series.