Draft SARS guide and explanatory note for Solar Energy Tax Credit issued for comments

The requirements of section 6C are explained in the draft guide under these headings:

⦁ Persons eligible for the solar energy tax credit
⦁ Solar photovoltaic panel requirements:

a. Solar photovoltaic panels must be “new and unused”
b. Generation capacity of solar photovoltaic panels
c. Solar photovoltaic panels must be “brought into use for the first time”
d. Installation requirements of the solar photovoltaic panels

⦁ Allowable amount of tax credit
⦁ Prohibition of double deductions
⦁ Multiple persons incurring the cost of the solar photovoltaic panels
⦁ Provisional tax
⦁ Disposal of solar photovoltaic panels and capital gains tax
⦁ Income tax returns
⦁ Recordkeeping

Examples are provided in the guide on:
⦁ Example 1 – The requirements “new and unused” and “brought into use for the first time
⦁ Example 2 – Allowable amount of solar energy tax credit
⦁ Example 3 – Multiple persons incurring the cost of the solar PV panels

You can read the SARS guide here.

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