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February : New diesel rebate announced by minister of finance during budget speech

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27 February, 2019

New diesel rebate announced by minister of finance during budget speech

 

On Wednesday this week the Minister of Finance, Tito Mboweni, during his Budget speech, announced that the diesel fund rebate would increase by 3.4% from R3.22 to R3.33 per litre on 80% of eligible diesel usage.  ( i.e. an increase per litre of R2.576 to R2.664).

Although this is a below inflation increase and given the volatility of the Rand, it is a positive step nonetheless.

As alluded to in our previous reports sent to members, FSA has and continues to engage with SARS regarding a new diesel fund dispensation for the Forestry Industry.

It is hoped that following discussions that we had with SARS in August 2018, the new dispensation will reflect the concerns that we raised regarding the current and proposed dispensation.  It is likely, according to SARS, that the new system will only come into effect in late 2019 or early in 2020.

Members will be kept informed of developments.

Source: Forestry South Africa

 

 


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