Carbon Tax Act, 2019 (Act No. 15 of 2019)

Part II : Allowances

7. Basic tax-free allowance
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[Section 7 Heading substituted by section 94(1) of the Taxation Laws Amendment Act, 2019 (Act No. 34 of 2019), GG42951, dated 15 January 2020 - deemed to have come into operation 1 June 2019 (Section 94(2)]

 

(1)A taxpayer that conducts an activity that is listed in Schedule 2 in the column "Activity/Sector" must receive an allowance in respect of those emissions, determined in terms of subsection (2).

 

(2) The percentage of the allowance referred to in subsection (1) must be calculated by matching the line in which the activity is contained in the column "Activity/Sector" with the corresponding line in the column 'Basic tax-free allowance %' in Schedule 2 of the total percentage of greenhouse gas emissions in respect of a tax period in respect of that activity.

 

[Section 7 substituted by section 94(1) of the Taxation Laws Amendment Act, 2019 (Act No. 34 of 2019), GG42951, dated 15 January 2020 - deemed to have come into operation 1 June 2019 (Section 94(2)]