Environmental policy integration in terms of section 37d of the Income Tax Act 58 of 1962
Environmental policy integration is essential in achieving environmental sustainability goals across non-environmental sectors. Dilution of environmental goals in environmental policy integration should be avoided. The conservation tax incentive of the repealed section 37C(5) read with section 18A o...
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| Format: | Article |
| Language: | English |
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AOSIS
2015-12-01
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| Series: | Journal of Economic and Financial Sciences |
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| Online Access: | https://jefjournal.org.za/index.php/jef/article/view/124 |
| _version_ | 1811272736717144064 |
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| author | Ellane Van Wyk |
| author_facet | Ellane Van Wyk |
| author_sort | Ellane Van Wyk |
| collection | DOAJ |
| description | Environmental policy integration is essential in achieving environmental sustainability goals across non-environmental sectors. Dilution of environmental goals in environmental policy integration should be avoided. The conservation tax incentive of the repealed section 37C(5) read with section 18A of the Income Tax Act 58 of 1962, replaced by section 37D, represents environmental policy integration in tax legislation. The study primarily aimed to determine whether the replacement will benefit contracted landowners, using historical comparative methodology. Secondarily, a historical review of the literature on environmental policy integration and alternative incentives for private conservation efforts was performed. Although contracted landowners might obtain a smaller tax benefit annually, they will receive the same total tax benefit over the entire period of the deduction. They will have certainty regarding their annual tax benefit. As certainty is preferred by most landowners, the study concluded that dilution of environmental policy integration goals will not result from the amended legislation. |
| first_indexed | 2024-04-12T22:45:38Z |
| format | Article |
| id | doaj.art-2389a99f3cf94387abf048cba472a86d |
| institution | Directory Open Access Journal |
| issn | 1995-7076 2312-2803 |
| language | English |
| last_indexed | 2024-04-12T22:45:38Z |
| publishDate | 2015-12-01 |
| publisher | AOSIS |
| record_format | Article |
| series | Journal of Economic and Financial Sciences |
| spelling | doaj.art-2389a99f3cf94387abf048cba472a86d2022-12-22T03:13:31ZengAOSISJournal of Economic and Financial Sciences1995-70762312-28032015-12-018310.4102/jef.v8i3.124121Environmental policy integration in terms of section 37d of the Income Tax Act 58 of 1962Ellane Van Wyk0School of Accountancy, University of StellenboschEnvironmental policy integration is essential in achieving environmental sustainability goals across non-environmental sectors. Dilution of environmental goals in environmental policy integration should be avoided. The conservation tax incentive of the repealed section 37C(5) read with section 18A of the Income Tax Act 58 of 1962, replaced by section 37D, represents environmental policy integration in tax legislation. The study primarily aimed to determine whether the replacement will benefit contracted landowners, using historical comparative methodology. Secondarily, a historical review of the literature on environmental policy integration and alternative incentives for private conservation efforts was performed. Although contracted landowners might obtain a smaller tax benefit annually, they will receive the same total tax benefit over the entire period of the deduction. They will have certainty regarding their annual tax benefit. As certainty is preferred by most landowners, the study concluded that dilution of environmental policy integration goals will not result from the amended legislation.https://jefjournal.org.za/index.php/jef/article/view/124Income Tax Act 58 of 1962conservation tax incentiveWestern Cape Stewardship Programme for Conservationenvironmental policy integrationconservation policy instruments |
| spellingShingle | Ellane Van Wyk Environmental policy integration in terms of section 37d of the Income Tax Act 58 of 1962 Journal of Economic and Financial Sciences Income Tax Act 58 of 1962 conservation tax incentive Western Cape Stewardship Programme for Conservation environmental policy integration conservation policy instruments |
| title | Environmental policy integration in terms of section 37d of the Income Tax Act 58 of 1962 |
| title_full | Environmental policy integration in terms of section 37d of the Income Tax Act 58 of 1962 |
| title_fullStr | Environmental policy integration in terms of section 37d of the Income Tax Act 58 of 1962 |
| title_full_unstemmed | Environmental policy integration in terms of section 37d of the Income Tax Act 58 of 1962 |
| title_short | Environmental policy integration in terms of section 37d of the Income Tax Act 58 of 1962 |
| title_sort | environmental policy integration in terms of section 37d of the income tax act 58 of 1962 |
| topic | Income Tax Act 58 of 1962 conservation tax incentive Western Cape Stewardship Programme for Conservation environmental policy integration conservation policy instruments |
| url | https://jefjournal.org.za/index.php/jef/article/view/124 |
| work_keys_str_mv | AT ellanevanwyk environmentalpolicyintegrationintermsofsection37doftheincometaxact58of1962 |