Housing Development Agency Act, 2008
R 385
Carbon Tax Act, 2019 (Act No. 15 of 2019)Part II : Allowances12. Carbon budget allowance |
| (1) | Subject to subsection (2), a taxpayer that conducts an activity that is listed in Schedule 2 in the column "Activity/Sector", and participates in the carbon budget system from 1 January 2021 to 31 December 2024, must receive an additional allowance of five per cent of the total greenhouse gas emissions in respect of a tax period. |
[Section 12(1) substituted by section 66(1) of the Taxation Laws Amendment Act, 2023 (Act No. 17 of 2023), Notice No. 4226, GG49894, dated 22 December 2023 - deemed to have come into operation on 1 January 2023 (section 66(2))]
| (2) | A taxpayer must only receive the allowance as contemplated in subsection (1) if the Department of Environmental Affairs confirms in writing that that taxpayer is participating in the carbon budget system as referred to in subsection (1). |
