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The distinction between types of commercial and residential property for value-added tax purposes in South AfricaFerreira, Melanie January 2012 (has links)
It is important to distinguish between types of commercial and residential property for value-added tax (VAT) purposes. The reason for this is because the supply of residential property may be exempt from VAT in certain cases, whereas the supply of commercial property is a taxable supply. One of the aims of this treatise was to generate some characteristics that can assist vendors to distinguish between types of commercial and residential property for VAT purposes. SARS proposed numerous changes to the VAT Act with regards to fixed property in 2011. This treatise explains the reason for the changes made and also comments on them. Firstly, property developers previously had to account for an output tax adjustment when they changed the use of their property i.e. from a taxable use (selling the completed units) to a non-taxable use (renting the completed units as a residential dwelling). This „output tax adjustment‟ sometimes places developers in a financial dilemma, especially in times of an economic depression. SARS therefore provided „developers‟ as defined with a short term solution. This short term solution provides property developers with a 36 month temporarily relief period, before they have to account for the „output tax adjustment‟. Therefore, the new section 18B was proposed to assist property developers in times of an economic recession. Secondly, in the past a vendor who acquired a property from a non-vendor to make taxable supplies was allowed a notional input tax deduction, limited to the transfer duty paid. SARS has however "delinked VAT from transfer duty‟, which means that the notional input tax deduction will no longer be limited to the transfer duty paid. This change may benefit vendors as they may now be allowed a bigger input tax deduction. Furthermore, the treatise also compares the VAT treatment of the above issues to that of the goods and services tax treatment in New Zealand. The treatise concludes with a summary of all distinguishing characteristics identified and other findings noted.
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Application of South African VAT on e-commerce transactionsXaba, Nduduzo Justified January 2017 (has links)
A research report to be submitted to the Faculty of Commerce, Law and Management, University of Witwatersrand, Johannesburg, in partial fulfilment of the requirements for the degree of Master of Commerce( Specialising in Taxation); March 2016 / The present study sought to investigate self-selection among internal and international migrants
in Gauteng by making use of the Gauteng City Region Quality of Life Survey data. The present
study also sought to disentangle the effects of observed and unobserved characteristics in the
self-selection of migrants by conducting Oaxaca-Blinder decomposition on overall
employment and self-employment outcome variables. Preliminary descriptive statistics
indicated that international migrants experienced markedly higher levels of employment than
both locals and internal migrants driven by higher rates of informal and self-employment.
System GMM analysis of pseudo panel data confirmed these results and showed that
international migrants had a higher probability of employment and self-employment. Oaxaca
Blinder decomposition indicated that unobserved characteristics explained the greatest share
of the differences in the rates employment and self-employment of locals, internal migrants
and international migrants. These results provide evidence for the positive selection of
international migrants to Gauteng on unobservable characteristics relevant to the region’s
labour market.
Key Words
Self-Selection; Migration; Self-Employment; Employment / GR2018
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The effect of value-added tax on small to medium-sized developers of residential properties in South AfricaJulyan, Leoni 11 1900 (has links)
This dissertation deals with the effect of value-added tax on
small to medium-sized developers of residential properties in
South Africa.
Firstly, the way value-added tax is applied to residential
properties in South Africa was established. It was
ascertained that no special concessions exist with regard to
housing.
Secondly, the application of value-added tax to residential
properties in the United Kingdom was discussed. It was
ascertained that supplies relating to new residential
premises are zero-rated.
Thirdly, the application of goods and services tax to
residential properties in Canada was discussed. Canadian
goods and services tax and harmonious sales tax legislation
contains a broad range of special concessions relating to
residential property developments. The harmonious sales tax
which applies in some provinces, is a combination of goods
and services tax and a provincial sales tax.
Fourthly, the way goods and services tax is applied to
residential property developments in Australia was
determined. Australian legislation provides for a margin
scheme to be applied to the development of residential
properties. In terms of the margin scheme, goods and
services tax is payable on the basis of profit rather than
turnover. Transfer duty as applied in South Africa was examined as an
alternative to the value-added tax being applied on
residential properties developed by developers registered for
value-added tax purposes.
The legislation with regard to developers of residential
properties registered for value-added tax, goods and services
tax and harmonious sales tax purposes was measured against
the principles of taxation. On the basis of these results,
an alternative to the current application of value-added tax
relating to developers registered for value-added tax
purposes in South Africa was proposed that would be in line
with that of the selected countries. / Economics / M. Com. (Accounting)
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The effect of value-added tax on small to medium-sized developers of residential properties in South AfricaJulyan, Leoni 11 1900 (has links)
This dissertation deals with the effect of value-added tax on
small to medium-sized developers of residential properties in
South Africa.
Firstly, the way value-added tax is applied to residential
properties in South Africa was established. It was
ascertained that no special concessions exist with regard to
housing.
Secondly, the application of value-added tax to residential
properties in the United Kingdom was discussed. It was
ascertained that supplies relating to new residential
premises are zero-rated.
Thirdly, the application of goods and services tax to
residential properties in Canada was discussed. Canadian
goods and services tax and harmonious sales tax legislation
contains a broad range of special concessions relating to
residential property developments. The harmonious sales tax
which applies in some provinces, is a combination of goods
and services tax and a provincial sales tax.
Fourthly, the way goods and services tax is applied to
residential property developments in Australia was
determined. Australian legislation provides for a margin
scheme to be applied to the development of residential
properties. In terms of the margin scheme, goods and
services tax is payable on the basis of profit rather than
turnover. Transfer duty as applied in South Africa was examined as an
alternative to the value-added tax being applied on
residential properties developed by developers registered for
value-added tax purposes.
The legislation with regard to developers of residential
properties registered for value-added tax, goods and services
tax and harmonious sales tax purposes was measured against
the principles of taxation. On the basis of these results,
an alternative to the current application of value-added tax
relating to developers registered for value-added tax
purposes in South Africa was proposed that would be in line
with that of the selected countries. / Economics / M. Com. (Accounting)
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A discussion and comparison of company legislation and tax legislation in South Africa, in relation to amalgamations and mergersSloane, Justin January 2014 (has links)
In his 2012 Budget Review, the Minister of Finance, Pravin Gordhan acknowledged that the introduction of the "new" Companies Act had given rise to certain anomalies in relation to tax and subsequently announced that the South African government would undertake to review the nature of company mergers, acquisitions and other restructurings with the view of possibly amending the Income Tax Act and/or the "new" Companies Act, to bring the two legislations in line with one another. These anomalies give rise to the present research. The literature reviewed in the present research revealed and identified the inconsistencies that exist between the "new" Companies Act, 71 of 2008 and the Income Tax Act, 58 of 1962, specifically the inconsistencies that exist in respect of the newly introduced amalgamation or merger provisions as set out in the "new" Companies Act. Moreover, this research was undertaken to identify the potential tax implications insofar as they relate to amalgamation transactions and, in particular, the potential tax implications where such transactions, because of the anomalies, fall outside the ambit section 44 of the Income Tax Act, which would in normal circumstances provide for tax "rollover relief". In this regard, the present research identified the possible income tax, capital gains tax, value-added tax, transfer duty tax and securities transfer tax affected by an amalgamation transaction, on the assumption that the "rollover relief" in section 44 of the Income Tax Act does not apply.
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