Tax-paying South African individuals and businesses will be able to claim substantial rebates for rooftop solar and other renewable energy generation in the coming financial year.in Parliament on Wednesday, 22 February.
Another individual who can buy 20 panels for R80,000 can claim the maximum of R15,000, working out to an 18.75% rebate.Only new and unused solar PV panels qualify to ensure that the capacity is in addition to what the country already has in place.Only solar PV panels with a minimum capacity of 275W per panel qualify for the rebate.
The solar PV panels must form part of a system connected to the private residence’s main distribution board. Body corporates will not be able to claim the rebate, although government said it would consult on this if there were widespread interest.However, if the panels themselves are sold within one year of purchase, a claw-back of the rebate will apply.
As it stands, businesses will be able to deduct 50% of the costs in the first year, 30% in the second and 20% in the third year on qualifying investments above 1MW of generation.Under the expanded incentive, businesses will be able to claim a 125% deduction in the first year for all renewable energy projects with no thresholds on generation capacity.
'Massive'? Try, 'dismissive'.
nickhedley Are u drunk
Wow !! Maybe get someone who understands tax before commenting 🙄🙄
Massive?😂😂😂😂😂
nickhedley Aimed at people who don't pay tax, luckily if you have a cash business you can claim a 100% rebate.
'Massive' 😂🤡 That's not even the VAT on just my batteries. What is massive is the scale of failure in gutterment and eksdom to actual paying customers... 😉👌 A$$hhHoooles 🌺
What a joke.
Pays for 3.5 panels at the current rate....
Massive? Er, that’s a NO!
What a joke. 15k max rebate on 150k+ installation. Sorry for you if your installation was last week or before.
I assume 'massive' is sarcasm
Nothing MASSIVE about it!! Only panels, only 25% of said panels and ONLY for 1 year from 1 March 2023. Not backdated. FIZZLE is more apt!!!
Massive? That’s not even close to the reality. You could and should do better. Ask ChatGPT for help