Budget 2023 | Govt is so desperate to end load shedding it's happy to slash your taxes | Business

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Budget2023 | Government, which is desperate to end load shedding, will reward households and businesses with tax deductions if they opt for renewables. | News24_Business

The condition of the tax rebate for households is that the solar panels must be purchased and installed at a private residence, and a certificate of compliance for the installation must be issued from 1 March 2023 to 29 February 2024, according to the Budget Review document.

But from 1 March 2023, the expanded incentive kicks in and will allow businesses to claim a 125% deduction in the first year for all renewable projects - solar PV, concentrated solar power, wind, hydropower and biomass projects.The incentive will apply for two years. But the government is placing a lot of reliance on renewables to help satisfy energy demand in the coming years.Supplied National Treasury

 

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_Business You guys are laughable, how much time did you have to fix Eskom, I’ll give you a hint 1994 👂

_Business Privatization on full swing

_Business And please list all politicians financial interests in renewables. There is quite a few.

_Business This government has lost it. With so much money it is wasting , why don't they install those solar panels to the poorest of the poor. The anc needs the poor people more when it is election time

_Business That's the prayer 🙏 for the theme of our budget speech

_Business Asisine government

_Business Why not cap the suppliers also? The prices for renewables at the moment is completely out of control

_Business 'Renewables' are not going to solve SA electricity problems, being pragmatic will.

_Business I sincerely hope that competition tribunals get involved to ensure that private households don't get ripped off by the solar industry/installers by marking up their prices by that 25% (or more) to account for that SARS rebate. Private households hardly win.

_Business SA consumers are already so indebted and have no funds to now go and do capital expenditure to install solar. Besides with a weakening currency, high fuel costs, high food prices & increasing interest rates the burden is massive. China will dump their old product/panels in SA.

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