SPECIAL
INCOME TAX ALLOWANCE FOR ENERGY EFFICIENCY SAVINGS
Do you own a property, which is used in
the carrying on of any trade e.g. a Guesthouse
or B&B property?
Consider Alternatives
Have you ever considered replacing the electrical
geysers of this property with a more energy efficient
alternative such as solar energy but have been
discouraged from incurring this substantial capital
expenditure due to the long pay-back period?
The Good News
In terms of the Taxation Laws Amendment Act published
on 30 September 2009, a new special allowance
for energy efficiency savings has been gazetted.
Allowance
It is proposed that a taxpayer be entitled to
claim a notional allowance for all forms of energy
efficiency savings resulting from activities
in the production of income.
Efficiency
Savings Certificate
The issuing of an energy efficiency savings
certificate will be a pre-requisite for
the allowance and the Minister of Energy
will issue regulations in this regard.
The allowance will come into operation on
a date determined by the Minister of Finance.
Sourced From: Exceed
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Hospitality
Partners Association, Monterey, 12-14 Klaassens Road, Bishopscourt,
Cape Town, 7708.
South Africa
Copyright on all information 2009 by Hospitality Partners
Association
