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Amendment of section 285A of Principal Act (acceleration of wear and tear allowances for certain energy-efficient equipment)
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21. (1) Section 285A of the Principal Act is amended—
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(a) in subsection (1), by the insertion of the following definition:
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“ ‘fossil fuel’ means coal, oil, natural gas, peat or any derivative thereof intended for use in the production of energy by combustion;”,
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and
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(b) in subsection (3)—
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(i) in paragraph (a), by the deletion of “and”,
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(ii) in paragraph (b), by the substitution of “the Table, and” for “the Table.”, and
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(iii) by the insertion of the following paragraph after paragraph (b):
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“(c) does not operate on fossil fuel, other than equipment that operates on electricity generated from using such fuel.”.
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(2) Subsection (1) shall apply to capital expenditure incurred on or after 1 January 2022.
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