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Gary says: 22 February 2024 at 16:22 I made a contribution towards a solar investment fund. My question does not relate to a rebate for my home installation. I have contributed to a large fund that raised capital for a 12B solar energy project. The administrator of that fund indicated that I can include this under "deductions" when I file. There doesn't seem to be a field to enter it on the IRP6. |
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TaxTim says: 23 February 2024 at 10:17 Please provide answers to the following questions: 1. Do you own the asset? 2. Is it used in the production of income? 3. Is it purchased new and unused? 4. Was it brought into use to generate electricity for the first time after 2023/03/01? All the above must be satisfied before you can claim the deduction and then it is limited to the total of the investment that is put into production. For example, if only 70% of the investment is put into production, you can only claim 70% of the deduction. Once you confirm the above, you can declare the deduction of investment x 125% x %put in production as a negative number on the business income question in the TaxTim dialogue. |
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