Tax allowance for saving energy
Have you ever considered replacing the electrical geysers of your B&B with a more energy-efficient alternative such as solar energy but have been discouraged by the substantial capital expenditure? Then there’s good news!
The energy-saving efforts of owners of properties used in the carrying on of a trade, such as guesthouses, may soon be rewarded.
In terms of the Taxation Laws Amendment Act published on 30 September 2009, a new special allowance for energy-efficient savings has been gazetted. It is proposed that a tax payer be entitled to claim a notional allowance for all forms of energy-efficient savings resulting from activities in the production of income. The issuing of an energy-efficient savings certificate will be a pre-requisite for the allowance, and the Minister of Energy will issue regulations in this regard. The allowance will be implemented on a date determined by the Minister of Finance.
For more information, contact Sonja Frank at Exceed, tel. 021 882 8140 or e-mail email@example.com.