The National Treasury has called on all interested parties to participate in an online survey on the introduction of two renewable energy tax incentives.
The objective of the survey is to collect data which will assist in evaluating the overall effectiveness of the renewable energy incentives in achieving their objectives.
The data sourced from the survey will also be used to inform future tax policies. The survey aims to provide all beneficiaries of the incentives and all interested parties an opportunity to share their experiences regarding these measures.
The survey response deadline is 31 January 2025.
To access the survey, click on this link for the renewable energy tax incentive review survey: https://forms.office.com/pages/responsepage.aspx?id=jzRFGrQCmk-nqHeG9t0yRfDfb_QYL6JOmhO01YiWivlUN0M1VE4zR1czVUVJWVVQU0VESlhUQUxPTi4u&route=shorturl
For technical inquiries email TaxIncentiveReviews@treasury.gov.za for assistance.
The purpose behind the survey
The National Treasury is reviewing the renewable energy tax incentives. Individuals were able to claim the Solar energy tax credit (section 6C of the Income Tax Act) for rooftop solar panels installed between 1 March 2023 and 29 February 2024. Businesses have been eligible to claim the Enhanced renewable energy tax allowance (section 12BA of the Income Tax Act) for assets brought into use between 1 March 2023 and 28 February 2025. The individual incentive was intended to encourage investing in clean energy generation to supplement energy supply and the business incentive aimed to encourage rapid private investment to alleviate the energy crisis. The tax incentive for individuals is in the form of a tax rebate that equates to 25 per cent of the value of the cost of solar PV panels, up to a maximum of R15000 per individual. Businesses can claim an upfront deduction of 125 per cent of the cost incurred to acquire qualifying assets used in the generation of electricity (including supporting structures).
