A common theme throughout the Budget is Government’s commitment to stabilising the fiscus and to enable much needed economic growth. In 2015, corporate South Africa can look forward to:
- an extension of the section 12I industrial policy project qualifying window period from 31 December 2015 to 31 December 2017;
- broadening of the incentives available for investments in hydropower generation, which provide accelerated depreciation allowances;
- the demarcation of two or more urban development zones (UDZ) per municipality for UDZ incentive purposes; and
- measures being put in place to deal with the approval backlog currently being experienced in respect of R&D incentive applications, which is proving particularly difficult for small businesses.