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 savings7. Concurrent benefits |
For the purposes of section 12L(4) of the Income Tax Act any credit, allowance, grant, cost recovery agreement or other similar benefit granted by or through—
| (a) | any sphere of government; |
| (b) | any public entity that is listed in Schedule 2 or 3 to the Public Finance Management Act, 1999 (Act No. 1 of 1999); or |
| (c) | any power purchase agreement as defined in Electricity Regulations on New Generation Capacity made by the Minister of Energy under section 35(4) of the Electricity Regulation Act, 2006 (Act No. 4 of 2006) published by Government Notice 721 of 5 August 2009 in respect of the IPP bid programme as defined in those regulations, |
for any energy efficiency savings or the sale and purchase of electricy constitutes a concurrent benefit.
[Regulation (7) substituted by regulation 3 of Notice No. R. 186, GG 38541, dated 6 March 2015]