Reporting on Section 12B of the Income Tax Act of 1958 - Investing in movable assets used in the production of renewable energy. Is there any forms that need to be completed or any registrations that need to be done at SARS or any department? Section 12L - Reducing energy consumption from the grid by investing in renewable energy. Is there a registration process? Please advise.
Important:
This answer is based on tax law year ending 28 February 2020.
Answer:
For section 12B(1)(h) there is no registration or specific forms required. For section 12L, see interpretation note 95, taxpayers are required by paragraph 2(a) to register with SANEDI in the form and manner as ascribed by SANEDI. This registration can be done through the SANEDI website (www.sanedi.org.za)., SANEDI must issue a certificate - relevant to the energy savings.