The aim of this research is to analyse the approach of the courts in determining the capital and revenue nature of income and expenditure. / Thesis (M.Com.)-University of Durban-Westville, 2002.

The aim of this technical report is to provide a detailed and critical commentary on and analysis of the general anti-avoidance section in the Income Tax Act 58 of 1962 paying particular attention to the introduction of the so-called business purpose test. The South African Acts that are the subject of this technical report are as follows: • The Income Tax Act 58 of 1962. • The Income Tax Act 21 of 1995. • The Income Tax Act 36 of 1996. • The Revenue Laws Amendment Act 46 of 1996. • The General Law Amendment Act 49 of 1996. • The Income Tax Act 28 of 1997. • The South African Revenue Service Act 34 of 1997. • The Estate Duty Act 45 of 1955. • The Value-Added Tax Act 89 of 1991. • The Transfer Duty Act 40 of 1949. The principal South African taxes dealt with in this technical report are as follows: • Normal Tax. • Donations Tax. • Estate Duty. Also covered is the legislation contained in the abovementioned Acts affecting estate planning schemes, generation skipping devices, income splitting schemes and tax avoidance schemes. / Thesis (M.Com.)-University of Natal, Durban, 1999.

This study tests the Arbitrage Pricing Theory on the Johannesburg stock Exchange (JSE). Following the McElroy and Burmeister (1988) approach of pre-specifying a factor structure to be tested, a possible set of factors was selected on the basis of a priori theoretical and empirical evidence that they could affect share prices. All combinations of these factors were separately tested against mining and industrial shares listed on the JSE. Two sets of tests were performed, firstly, a multivariate nonlinear regression with cross-equation restrictions as a test of the APT model and secondly, a seemingly unrelated regression model. The APT test results for mining shares show that the model with gold price risk and residual market risk and the model with growth rate risk and residual market risk had the highest adjusted-R2 values. However these factors were not priced APT factors since they were not significantly different from zero. Two one-factor models yielded priced APT factors. These were the model including the gold price risk and another model with growth rate risk. Whilst these were both priced APT factors, the gold price risk model was better fitted. Four models were selected from the APT tests on industrial shares, on the basis of high adjusted-R2 values and factors which were significantly different from zero. They included the following risk factors: gold price risk and residual market risk; foreign exchange risk and residual market risk; inflation risk and residual market risk; default premium risk, gold price risk and residual market risk. The seemingly unrelated regression models had very similar adjusted-R2 values and indicated that the APT did not appear to explain the variation in share returns any better or worse than the seemingly unrelated regression model. The adjusted-R2 values for individual shares and the signs of the factor risk-premiums appear to be reasonable. The residual market risk factor was significantly different from zero for both the mining and industrial share samples, indicating that further work is required to identify the APT factors operating on the JSE. / Thesis (M.Com.)-University of Natal, Durban, 1993.

This dissertation examines the teaching of Accounting in secondary schools under the auspices of the Natal Education Department (NED) and the influence that exposure to Accounting at high school then has on the performance of students in the first year Accounting course at the University of Natal (Durban). Teaching and examining methods in Accounting in Natal high schools have undergone notable revision since the introduction of the current Standard 10 syllabus in 1987. The nature of the revised methodology is assessed through surveys of the opinions of those individuals with a direct involvement in high school Accounting i.e. school pupils, prospective university students, the NED Subject Committee, school Accounting teachers, university lecturers and accountants in public practice. The major findings were that a significant majority of university students believed that previous exposure to the subject at high school level was a distinct advantage in Accounting I, while a significant majority of students who had not undertaken the subject up to matric level believed, in retrospect, that they should have done so. A number of universities are aware of the advantage enjoyed by students with previous exposure to the subject and have constructed their first year Accounting courses accordingly. The University of Natal, however, continues to treat its Accounting I group as a homogeneous unit, the implications of which are covered in the study. Data was collected over a three year period (1988 to 1990) in order to compare the performance of the two groups of students in Accounting I i.e. those with matric Accounting and those without. The statistical analysis revealed that students without matric Accounting have: * significantly higher drop-out rates (and drop-outs from this group were of relatively high academic ability) * significantly lower pass rates * significantly lower Accounting I marks, despite the fact that there is no apparent difference in the academic ability of the two groups of students. Whilst the study has focused on the relevance of high school Accounting towards further study at university, the point is made that the high school Accounting course needs to cater also for a majority of pupils who will choose alternative career options. / Thesis (M.Com.)-University of Natal, Durban, 1992.

Many intra-firm transactions are non-market transactions and therefore lack a market determined price. A transfer price is the price assigned to such nonmarket intra-firm transfers. Transfer prices are especially important for multinational corporations, since a parent company typically has subsidiaries or branches in other countries and transfers are often made between the component parts of the multinational. As the world has become more internationally dependent, these transactions and the associated transfer prices have come under increased scrutiny. The fear often expressed by governments is that a multinational corporation may manipulate transfer prices in order to transfer profits from one country to another, and thereby affect various government policies. Most notably, transfer prices can affect the tax revenues of both the home and host country. A general international consensus is that the appropriate transfer price is the 'arm's length' price. This is the price that would be charged by two unrelated parties. However, it is often difficult to find such a comparable transaction. / Thesis (M.Com.)-University of KwaZulu-Natal, Durban, 2004.

The aim of this dissertation is to research the existing South African income tax legislation that is available for use by various parties when conducting equity transactions aimed at compliance with the ownership element of the Black Economic Empowerment (BEE) scorecard and to suggest recommendations when possible to the Income Tax Act 58 of 1962 that may be necessary to encourage an increased focus on making a success of BEE within South Africa. To achieve this, existing income tax legislation applicable to each party in the transaction is considered separately as the tax consequence differ depending on whose perspective is being considered. This dissertation represents tax legislation applicable as at 8 January 2008, including all amendments up to this date. / Thesis (M.Acc.)-University of KwaZulu-Natal, Westville, [20??].

The promotion of Small, Medium and Micro enterprises (SMMEs) has been identified as key strategy of government for employment creation and income generation. For some time now small business owners had to fend for themselves. Small business was neglected and was in the main ignored by government. Since the 1994 democratic process the challenge for the new order has been to create an enabling environment for the small business sector of the economy. The historical neglect and the consequent policy vacuum has had to be re assessed. To this end the 1995 White Paper on a National Strategy for the development and Promotion of Small Business in South Africa was the first major effort by government to design a policy framework targeting the small business sector. The promulgation of the Small Business Act in 1996 and the establishment of the Ntsika Enterprise Promotion agency under the aegis of the Department of Trade and Industry has attempted to provide direction and facilitate the provision of Non Financial support to the Small Business Sector. Various incentive schemes have been developed and put into operation together with a range of tax incentives to help promote Small Business. Eight years have passed since the promulgation of the Small Business Act and the perception that finance for SMMEs has been the greatest stumbling block to development. However the failure of the vast numbers of micro lending agencies have revealed that low levels of entrepreneurship has led to their demise. The provision of meaningful positive incentives need to be measured and their effectiveness needs to be tested. This study will try and identify the incentives available. / Thesis (M.Com.)-University of KwaZulu-Natal, 2004.

No abstract available. / Thesis (M.Acc.)-University of Durban-Westville, 2002.

An analysis of transfer pricing theory reveals that there are three main objectives of a transfer pricing system: the attainment of goal congruence, the facilitation of fair divisional performance evaluation and the promotion of divisional autonomy. A critical evaluation of suggested theoretically correct transfer pricing methods suggests that the simultaneous attainment of all three objectives is a difficult goal to be realised by a single transfer pricing method. The most appropriate method to suit a particular set of circumstances is contingent upon those circumstances. The transfer pricing objective considered most important in practice by large listed South African industrial companies is the facilitation of fair divisional performance evaluation. Objectives relating to simplicity and ease of application are also rated more highly than goal congruence. Both these findings are somewhat surprising based on the review of current literature. The domestic transfer pricing methods used by large listed South African industrial companies are fairly evenly split between cost and non-cost-oriented methods. The most frequently used primary transfer pricing method is market price. The use of mathematical programming and economic marginal cost prices is practically non-existent. These findings are consistent with the findings of some recent overseas studies. Policies relating to the selection of the transfer pricing method, the purchase of intermediate goods and services and the settlement of transfer pricing disputes reflects some head office management involvement in the transfer price decision process in most cases. Three organisational variables appear to have a significant association with a firm's choice of transfer pricing method. Firstly, companies with a low level of interdivisional trading use non-cost oriented transfer pricing methods whereas companies with a high level of interdivisional trading use cost-oriented methods. Secondly, transfer pricing methods selected as a result of some head office management involvement tend to be cost-oriented whereas methods selected by the divisions themselves tend to be non-cost-oriented. Thirdly, cost-oriented methods tend to be used in companies in which transfer pricing disputes are normally settled by some form of head office intervention and non-cost oriented methods are used in those companies in which disputes are normally settled by the divisions themselves. / Thesis (M.Acc.)-University of Natal, Pietermaritzburg, 1997.

Literature suggests that countries should adopt the International Financial Reporting Standards and the worldwide recommended narrative reporting in annual reports. However, in developing countries, a range of prerequisites have to be put in place to ensure compliance therewith. This study has two main aims: firstly, to identify the way Rwandan companies report and to compare their reporting system with international requirements, and secondly to establish how aware Rwandan companies are of narrative reporting. This study uses a basic research and a mixed methods approach. A mixed method approach is used when the researcher supplements qualitative information with a quantitative approach to provide a more comprehensive analysis of the problem. A sample of 24 companies formed the subject of this study. Data were collected using a questionnaire which was supplemented in some cases with interviews. This study revealed that although Rwandan companies report annually, they do not all comply with International Financial Reporting Standards. While Rwandan companies do not totally ignore narrative reporting and are aware of its importance, some preparers lack some knowledge towards the preparation and presentation of such reports. Some of the reasons for this were the lack of a properly constituted accounting board, the lack of sound regulation in the accounting profession and the absence of enough qualified accountants Based on the current study’s findings, it is recommended that the accounting profession in Rwanda should be strengthened. This can be achieved with the help of the government of Rwanda and the international community. The current study also revealed the necessity for Rwanda to adopt the International Financial Reporting Standards. To achieve this, an incremental adoption approach is recommended which could lead the way to the full adoption of the International Financial Reporting Standards. / Thesis (M.Acc.)-University of KwaZulu-Natal, Westville, 2009.