THE NEW SARS
“SOLAR ENERGY TAX CREDIT”
The proposed new law regarding the tax credit available to individuals who install solar panels has been announced.
The system will be introduced in the form of a tax credit, as opposed to a tax deduction. This is good news as it affords individuals with a uniformed opportunity in claiming the same tax credit. Under a deduction form, a sliding scale is applied, which is dependent on each individual’s income and tax bracket.