11. Performance allowance

(1)     A taxpayer that has implemented measures to reduce the greenhouse gas emissions of that taxpayer in respect of a tax period must receive an allowance in respect of that tax period not exceeding five per cent of the total greenhouse gas emissions of that taxpayer during that tax period, determined in accordance with the formula:

Z = (A  of  B – C) x D

in which formula-

(a)     “Z” represents the percentage to be determined that must not be less than zero;

(b)     “A” represents-

(i)      the sector or subsectionector greenhouse gas emissions intensity benchmark as prescribed by the Minister; or

(ii)     where no value is prescribed as required by subparagraph (i), the number zero;

(c)     “B” represents the measured and verified greenhouse gas emissions intensity of a taxpayer in respect of a tax period;

(d)     “C” represents the number one; and

(e)     “D” represents the number 100.

(2)     For the purposes of this section “measures” include action taken to reduce greenhouse gas emissions in respect of a tax period.