Income Tax Act, 1962 (Act No. 58 of 1962)RegulationsRegulations in terms of section 12L of the Income Tax Act, 1962, on the allowance for energy efficiency savings6. Limitation of allowance |
(1) For the purpose of this regulation—
means combined heat and power;
means the production of electricity and useful heat from a fuel or energy source which is a co-product, by-product, waste product or residual product of an underlying industrial process;
means the difference between the useful heat and equivalent kilowatt hours of energy output and the equivalent kilowatt hours of input energy expressed as a percentage;
[Definition inserted by regulation 2(b) of Notice No. R. 186, GG 38541, dated 6 March 2015]
[Defintion deleted by regulation 2(a) of Notice No. R. 186, GG 38541, dated 6 March 2015]
means—
(a) biomass;
(b) geothermal;
(c) hydro;
(d) ocean currents;
(e) solar;
(f) tidal waves; or
(g) wind;
"waste heat"
[Defintion deleted by regulation 2(a) of Notice No. R. 186, GG 38541, dated 6 March 2015]
"waste heat recovery"
[Defintion deleted by regulation 2(a) of Notice No. R. 186, GG 38541, dated 6 March 2015]
| (2) | A person may not receive the allowance in respect of energy generated from renewable sources other than energy generated from combined heat and power. |
[Subregulation (2) substituted by regulation 2(c) of Notice No. R. 186, GG 38541, dated 6 March 2015]
| (3) | A person generating energy through a captive power plant may not receive the allowance unless the energy conversion efficiency of the plant is greater than 35 per cent. |
[Subregulation (3) substituted by regulation 2(c) of Notice No. R. 186, GG 38541, dated 6 March 2015]