{"id":56490,"date":"2023-11-13T17:42:10","date_gmt":"2023-11-13T17:42:10","guid":{"rendered":"https:\/\/www.africa-press.net\/south-africa\/all-news\/new-tax-break-for-a-very-select-few-in-south-africa"},"modified":"2023-11-13T17:54:59","modified_gmt":"2023-11-13T17:54:59","slug":"new-tax-break-for-a-very-select-few-in-south-africa","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/south-africa\/all-news\/new-tax-break-for-a-very-select-few-in-south-africa","title":{"rendered":"New tax break for a very select few in South Africa"},"content":{"rendered":"

Africa-Press – South-Africa. <\/strong><\/span>The Sustainable Finance Coalition, in partnership with The Department of Forestry, Fisheries and the Environment (DFFE), has executed the country\u2019s first tax incentive for threatened species \u2013 such as rhinos and lions.<\/p>\n

The programme aims to protect endangered animals and plants such as rhinos, lions, vultures, cycads, and many other vulnerable faunal and floral species.<\/p>\n

\u201cThis unique tax incentive, section 37C(1) of South Africa\u2019s Income Tax Act, is enabled by the signing of the country\u2019s first-ever Biodiversity Management Agreements (BMAs) between the Minister of the Environment, Barbara Creecy, and South African taxpayers,\u201d said the Coalition.<\/p>\n

The tax incentive allows ordinary South Africans, who are safeguarding threatened ecosystems or species, to deduct all expenses related to their conservation efforts from taxable income.<\/p>\n

It was also used to unlock South Africa\u2019s Protected Area Tax Incentive, section 37D, garnering global recognition. Section 37D allows taxpayers to deduct the value of their land where that land is declared as a nature reserve or national park.<\/p>\n

These initial BMAs, a Candidate Other Effective Area-Based Conservation Measure (OECM), are being implemented for the first time by landowners in the Limpopo Province, who are now able to access the deduction.<\/p>\n

\u201cNot only does this tax incentive provide a finance solution for conservation in South Africa, but it simultaneously creates a Candidate OECM. It has a dual impact on conservation and finance,\u201d said Sustainable Finance Coalition CEO and Chairperson Candice Steven.<\/p>\n

\u201cCritically important to achieving our goals for nature is the need to increase finance available for conservation efforts. The tax incentive is expected to unlock finance for the conservation and maintenance of threatened species and ecosystems at approximately R1.5 million per annum.<\/p>\n

\u201cThe incentive is niche, but it does provide a dedicated financial benefit for citizens seeking to do their part in protecting our country\u2019s incredible natural heritage,\u201d she added.<\/p>\n

The tax incentive\u2019s requirements are directly linked to the BMAs enacted by the National Environmental Management: Biodiversity Act No. 10 of 2004 (NEMBA), and conservation actions are guided by gazetted Biodiversity Management Plans (BMPs), said the Coalition.<\/p>\n

\u201cAfter the High-Level Panel Report in 2020, there was a strong sentiment that South Africa needed to do more to assist private citizens and communities owning and conserving rhinos for future generations. This tax incentive does exactly that,\u201d said WFA CEO Andrew Muir.<\/p>\n

If you are involved in the conservation and maintenance of threatened species and ecosystems (for example, rhino, lion, cycads, vultures, and others) for which a BMP has been published, you may be eligible to access the tax deduction.<\/p>\n

You will need to sign a BMA with DFFE for a period of at least five years. Taxpayers who sign a BMA are contracted to conduct prescribed conservation and maintenance actions with respect to the threatened species they are managing. These actions may include:<\/p>\n

Alien-clearing;<\/p>\n

Fodder;<\/p>\n

Ranger salaries;<\/p>\n

Security;<\/p>\n

Veterinary expenses; and<\/p>\n

Member levies contributing to the conservation and maintenance activities of management associations of areas.<\/p>\n

In return, these taxpayers, who do not conduct commercial operations on the land subject to the BMA, may be eligible to deduct expenses incurred in conducting the prescribed actions, which will consequently result in a reduction in tax payable. The tax incentive will assist in closing the conservation finance gap and will benefit both people and places, the coalition said.<\/p>\n

For More News And Analysis About South-Africa<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – South-Africa. The Sustainable Finance Coalition, in partnership with The Department of Forestry, Fisheries and the Environment (DFFE), has executed the country\u2019s first tax incentive for threatened species \u2013 such as rhinos and lions. The programme aims to protect endangered animals and plants such as rhinos, lions, vultures, cycads, and many other vulnerable faunal […]<\/p>\n","protected":false},"author":84,"featured_media":56488,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[274,315,275],"class_list":["post-56490","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-africa-press","tag-africa-press-south-africa","tag-south-africa-2"],"yoast_head":"\nNew tax break for a very select few in South Africa - South Africa<\/title>\n<meta name=\"description\" content=\"The Sustainable Finance Coalition, in partnership with The Department of Forestry, Fisheries and the Environment (DFFE), ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/south-africa\/all-news\/new-tax-break-for-a-very-select-few-in-south-africa\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"New tax break for a very select few in South Africa\" \/>\n<meta property=\"og:description\" content=\"The Sustainable Finance Coalition, in partnership with The Department of Forestry, Fisheries and the Environment (DFFE), ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/south-africa\/all-news\/new-tax-break-for-a-very-select-few-in-south-africa\" \/>\n<meta property=\"og:site_name\" content=\"South Africa\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2023-11-13T17:42:10+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-11-13T17:54:59+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/south-africa\/sites\/31\/2023\/11\/sm_1699885374.224745.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"799\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/new-tax-break-for-a-very-select-few-in-south-africa#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/new-tax-break-for-a-very-select-few-in-south-africa\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"New tax break for a very select few in South Africa\",\"datePublished\":\"2023-11-13T17:42:10+00:00\",\"dateModified\":\"2023-11-13T17:54:59+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/new-tax-break-for-a-very-select-few-in-south-africa\"},\"wordCount\":572,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/new-tax-break-for-a-very-select-few-in-south-africa#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/south-africa\/sites\/31\/2023\/11\/sm_1699885374.224745.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-South-Africa\",\"South-Africa\"],\"articleSection\":[\"all news\",\"economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/south-africa\/all-news\/new-tax-break-for-a-very-select-few-in-south-africa#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/new-tax-break-for-a-very-select-few-in-south-africa\",\"url\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/new-tax-break-for-a-very-select-few-in-south-africa\",\"name\":\"New tax break for a very select few in South Africa - South Africa\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/new-tax-break-for-a-very-select-few-in-south-africa#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/new-tax-break-for-a-very-select-few-in-south-africa#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/south-africa\/sites\/31\/2023\/11\/sm_1699885374.224745.jpg\",\"datePublished\":\"2023-11-13T17:42:10+00:00\",\"dateModified\":\"2023-11-13T17:54:59+00:00\",\"author\":{\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"description\":\"The Sustainable Finance Coalition, in partnership with The Department of Forestry, Fisheries and the Environment (DFFE), ...\",\"breadcrumb\":{\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/new-tax-break-for-a-very-select-few-in-south-africa#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.africa-press.net\/south-africa\/all-news\/new-tax-break-for-a-very-select-few-in-south-africa\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/new-tax-break-for-a-very-select-few-in-south-africa#primaryimage\",\"url\":\"https:\/\/static.africa-press.net\/south-africa\/sites\/31\/2023\/11\/sm_1699885374.224745.jpg\",\"contentUrl\":\"https:\/\/static.africa-press.net\/south-africa\/sites\/31\/2023\/11\/sm_1699885374.224745.jpg\",\"width\":1200,\"height\":799,\"caption\":\"New tax break for a very select few in South Africa\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/new-tax-break-for-a-very-select-few-in-south-africa#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.africa-press.net\/south-africa\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"New tax break for a very select few in South Africa\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/#website\",\"url\":\"https:\/\/www.africa-press.net\/south-africa\/\",\"name\":\"South Africa\",\"description\":\"Just another Africa News Agency Sites site\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.africa-press.net\/south-africa\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\",\"name\":\"cfeditoren\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/7417380fa9e23b5c57fdbfdaf3fdf92ee478f759a084addda5faa3732853e74a?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/7417380fa9e23b5c57fdbfdaf3fdf92ee478f759a084addda5faa3732853e74a?s=96&d=mm&r=g\",\"caption\":\"cfeditoren\"}}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"New tax break for a very select few in South Africa - South Africa","description":"The Sustainable Finance Coalition, in partnership with The Department of Forestry, Fisheries and the Environment (DFFE), ...","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.africa-press.net\/south-africa\/all-news\/new-tax-break-for-a-very-select-few-in-south-africa","og_locale":"en_US","og_type":"article","og_title":"New tax break for a very select few in South Africa","og_description":"The Sustainable Finance Coalition, in partnership with The Department of Forestry, Fisheries and the Environment (DFFE), ...","og_url":"https:\/\/www.africa-press.net\/south-africa\/all-news\/new-tax-break-for-a-very-select-few-in-south-africa","og_site_name":"South Africa","article_publisher":"https:\/\/www.facebook.com\/AfricaPressTunisiaa","article_published_time":"2023-11-13T17:42:10+00:00","article_modified_time":"2023-11-13T17:54:59+00:00","og_image":[{"width":1200,"height":799,"url":"https:\/\/static.africa-press.net\/south-africa\/sites\/31\/2023\/11\/sm_1699885374.224745.jpg","type":"image\/jpeg"}],"author":"cfeditoren","twitter_card":"summary_large_image","twitter_misc":{"Written by":"cfeditoren","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.africa-press.net\/south-africa\/all-news\/new-tax-break-for-a-very-select-few-in-south-africa#article","isPartOf":{"@id":"https:\/\/www.africa-press.net\/south-africa\/all-news\/new-tax-break-for-a-very-select-few-in-south-africa"},"author":{"name":"cfeditoren","@id":"https:\/\/www.africa-press.net\/south-africa\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb"},"headline":"New tax break for a very select few in South Africa","datePublished":"2023-11-13T17:42:10+00:00","dateModified":"2023-11-13T17:54:59+00:00","mainEntityOfPage":{"@id":"https:\/\/www.africa-press.net\/south-africa\/all-news\/new-tax-break-for-a-very-select-few-in-south-africa"},"wordCount":572,"commentCount":0,"image":{"@id":"https:\/\/www.africa-press.net\/south-africa\/all-news\/new-tax-break-for-a-very-select-few-in-south-africa#primaryimage"},"thumbnailUrl":"https:\/\/static.africa-press.net\/south-africa\/sites\/31\/2023\/11\/sm_1699885374.224745.jpg","keywords":["Africa Press","Africa Press-South-Africa","South-Africa"],"articleSection":["all news","economy"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.africa-press.net\/south-africa\/all-news\/new-tax-break-for-a-very-select-few-in-south-africa#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.africa-press.net\/south-africa\/all-news\/new-tax-break-for-a-very-select-few-in-south-africa","url":"https:\/\/www.africa-press.net\/south-africa\/all-news\/new-tax-break-for-a-very-select-few-in-south-africa","name":"New tax break for a very select few in South Africa - South Africa","isPartOf":{"@id":"https:\/\/www.africa-press.net\/south-africa\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.africa-press.net\/south-africa\/all-news\/new-tax-break-for-a-very-select-few-in-south-africa#primaryimage"},"image":{"@id":"https:\/\/www.africa-press.net\/south-africa\/all-news\/new-tax-break-for-a-very-select-few-in-south-africa#primaryimage"},"thumbnailUrl":"https:\/\/static.africa-press.net\/south-africa\/sites\/31\/2023\/11\/sm_1699885374.224745.jpg","datePublished":"2023-11-13T17:42:10+00:00","dateModified":"2023-11-13T17:54:59+00:00","author":{"@id":"https:\/\/www.africa-press.net\/south-africa\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb"},"description":"The Sustainable Finance Coalition, in partnership with The Department of Forestry, Fisheries and the Environment (DFFE), ...","breadcrumb":{"@id":"https:\/\/www.africa-press.net\/south-africa\/all-news\/new-tax-break-for-a-very-select-few-in-south-africa#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.africa-press.net\/south-africa\/all-news\/new-tax-break-for-a-very-select-few-in-south-africa"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.africa-press.net\/south-africa\/all-news\/new-tax-break-for-a-very-select-few-in-south-africa#primaryimage","url":"https:\/\/static.africa-press.net\/south-africa\/sites\/31\/2023\/11\/sm_1699885374.224745.jpg","contentUrl":"https:\/\/static.africa-press.net\/south-africa\/sites\/31\/2023\/11\/sm_1699885374.224745.jpg","width":1200,"height":799,"caption":"New tax break for a very select few in South Africa"},{"@type":"BreadcrumbList","@id":"https:\/\/www.africa-press.net\/south-africa\/all-news\/new-tax-break-for-a-very-select-few-in-south-africa#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.africa-press.net\/south-africa\/"},{"@type":"ListItem","position":2,"name":"New tax break for a very select few in South Africa"}]},{"@type":"WebSite","@id":"https:\/\/www.africa-press.net\/south-africa\/#website","url":"https:\/\/www.africa-press.net\/south-africa\/","name":"South Africa","description":"Just another Africa News Agency Sites site","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.africa-press.net\/south-africa\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.africa-press.net\/south-africa\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb","name":"cfeditoren","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.africa-press.net\/south-africa\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/7417380fa9e23b5c57fdbfdaf3fdf92ee478f759a084addda5faa3732853e74a?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/7417380fa9e23b5c57fdbfdaf3fdf92ee478f759a084addda5faa3732853e74a?s=96&d=mm&r=g","caption":"cfeditoren"}}]}},"_links":{"self":[{"href":"https:\/\/www.africa-press.net\/south-africa\/wp-json\/wp\/v2\/posts\/56490","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.africa-press.net\/south-africa\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.africa-press.net\/south-africa\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.africa-press.net\/south-africa\/wp-json\/wp\/v2\/users\/84"}],"replies":[{"embeddable":true,"href":"https:\/\/www.africa-press.net\/south-africa\/wp-json\/wp\/v2\/comments?post=56490"}],"version-history":[{"count":0,"href":"https:\/\/www.africa-press.net\/south-africa\/wp-json\/wp\/v2\/posts\/56490\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.africa-press.net\/south-africa\/wp-json\/wp\/v2\/media\/56488"}],"wp:attachment":[{"href":"https:\/\/www.africa-press.net\/south-africa\/wp-json\/wp\/v2\/media?parent=56490"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.africa-press.net\/south-africa\/wp-json\/wp\/v2\/categories?post=56490"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.africa-press.net\/south-africa\/wp-json\/wp\/v2\/tags?post=56490"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}