Reforms to the biodiversity tax incentive

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National Treasury has proposed modifying the rules concerning the allowable deductions for setting aside private land as a protected area. These modifications will include the removal of the limitation of not allowing a rollover of donations in excess of 10 per cent of taxable income and the value of the incentive being the lower of the municipal or market value. It is proposed that certain conservation capital and maintenance expenditure will also be allowed as deductible tax expenses.