Media Statement from National Treasury: Draft Amendments to Carbon Tax Offset Regulations

National Treasury released the Draft Amendments to the Carbon Tax Offset Regulations for public comment in March 2021. The original Carbon Tax Offset Allowance Regulations were published in November 2019. As per the Carbon Tax Act, the taxpayer may reduce their tax payable by utilising carbon offsets as prescribed by the Minister. The taxpayer can receive an allowance of up to 10% of the total tax burden.

The media statement released by National Treasury on 31 March 2021, at the same time as the draft amendments, highlights some of the major changes applied. The amendments include updates to certain key definitions, rewording of Verra-related aspects to align with recent changes, and the inclusion of national registries from which credits may be canceled and listed on COAS.

Comments must be submitted to National Treasury at: by 30 April 2021.

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Carbon Tax Offset Regulations Nov19