Income Tax Act-based allowances for energy efficiency
The release of the Regulation[1] on the allowance for energy efficiency savings for public comment is delivering the currency which most organisations endeavour to capitalise on: Tax Money! It is set to rapidly increase the uptake of energy efficiency and is a key incentive to warrant energy efficiency economically viable.
This article endeavours to explain the financial, technical and organisational support afforded by local government through the Income Tax Act of 1962 for energy efficiency tax incentives[1], and highlights the concurrent benefits of standardised energy efficiency practices. It concludes with recommendations for organisations wishing to claim these incentives, and individuals wishing to enter the career path of verifying energy savings for the purposes of these incentives.
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Kind Regards,
Izelle Bosman
Email: info@cmvpsa.org.za
