Refiloe Mpakanyane spoke to certified financial planner, Paul Roelofse, about the limitations of the solar tax incentive.
From 1 March, individuals who plan to install rooftop solar panels, can claim a rebate of 25% of the cost of the panels, up to a maximum of R15,000.
But you will only get your refund next year when you submit your tax return.
“We don’t get a deduction against total installation. You only get a deduction against the solar panels. That leaves a lot of other costs behind, like batteries, inverters and labour costs. We should have zero-rated the VAT on solar installations.” Paul Roelofse, Certified Financial Planner
Source: www.capetalk.co.za
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