It’s Official – Energy Efficiency tax rebate increased!

Brick manufacturers will be please to hear that in terms of the recently promulgated Taxation Laws Amendment Act, Act No. 25 of 2015, published in Government Gazette No. 39588, the Section 12L energy efficiency tax incentive has been amended and improved to increase the amount of the (measured and verified) deduction from 45c to 95 cents per kilowatt hour or kilowatt hour equivalent of energy saved.

Furthermore, the increased rate is deemed to have come into operation retroactively on 1 March 2015 and applies in respect of years of assessment commencing on or after that date.

The tax incentive was available to any business, industry or mining entity that achieved measured and verified energy savings over a 12-month period. The allowance was deducted directly from the company or entity’s tax submission to the South African Revenue Service.

Associate Member SwissContact advises that they are looking to support a local project in the industry in terms of energy efficiency improvements,and invite brick makers or their consultants/suppliers to contact them with information about their projects..

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