Spelling suggestions: "subject:"dissertations -- accountants"" "subject:"dissertations -- accountant""
21 |
Die belastinggevolge van opsiekontrakteLotz, Christiaan Frederick 04 1900 (has links)
Thesis (MComm)--Stellenbosch University, 2003. / AFRIKAANSE OPSOMMING: Belastingbeleidmakers in Suid-Afrika het tot 'n groot mate die belastinghantering van afgeleide instrumente verwaarloos. Die Inkomstebelastingwet, No. 58 van 1962, neem tans slegs drie soorte finansiele ooreenkomste wat as afgeleide instrumente geklassifiseer kan word, in aanmerking: termynwissel- en opsiekontrakte met betrekking tot buitelandse valuta, rentekoers ruilkontrakte gebaseer op denkbeeldige kapitaalbedrae en opsiekontrakte. Alhoewel die Kommissaris van Binnelandse Inkomste 'n aantal interne werkskomitees aangestel het om ondersoek in te stel na hierdie afdeling van die reg, is die wetgewing wat voortgespruit het as uitvloeisel van hierdie pogings broksgewys van aard deurdat dit slegs met beperkte aspekte van die belasbaarheid van 'n aantal spesifieke transaksies gehandel het. Vanweë die gebrek aan spesifieke wetgewende bepalings wat die belastingaspekte van afgeleides reguleer, moet die algemene beginsels van die Suid-Afrikaanse inkomstebelastingreg op hierdie instrumente toegepas word. Dit gee aanleiding tot onnoukeurige en teenstrydige resultate, hoofsaaklik omdat hierdie beginsels reeds lank voor die wydverspreide gebruik van afgeleides in gesofistikeerde en ingewikkelde transaksies ontwikkel het. Die belasbaarheid van transaksies waarby afgeleide instrumente betrokke is, is 'n onderwerp van toenemende praktiese belang in Suid-Afrika vanweëdie styging in die aantal transaksies in afgeleides. Die inwerkingstelling van kapitaalwinsbelasting in Suid-Afrika het nog 'n verdere dimensie aan die belasbaarheid van afgeleide instrumente toegevoeg. Indien ag geslaan word op die toename in die aantal en waarde van transaksies in afgeleide instrumente wat deur Suid-Afrikaanse belastingbetalers aangegaan word, is dit noodsaaklik dat duidelikheid rakende die belasbaarheid van hierdie transaksies so spoedig doenlik verkry word. Enige hervorming en hersiende belastingreels wat van toepassing gemaak word op hierdie instrumente moet baie buigsaam wees, aangesien verdere ontwikkelings in die finansiële instrumente-omgewing uiters dinamies is en bykans daagliks verander. Dit is voorts belangrik dat die Suid-Afrikaanse belastingstelsel tred hou met internasionale ontwikkelinge ten einde die land se handel status te versterk en te verseker dat transaksies oor grense heen nie onreëlmatige gevolge inhou nie, veral vir buitelandse teenpartye. / ENGLISH ABSTRACT: Tax policy makers in South Africa have, to a large extent, neglected the tax treatment of
derivative instruments. The Income Tax Act, No. 58 of 1962, currently only takes into
account three types of financial arrangements that can be classified as being derivative
in nature: forward exchange and option contracts relating to foreign exchange, interest
rate swaps based on notional capital amounts and option contracts. Although the
Commissioner for Inland Revenue has appointed a number of internal working
committees to research this area of the law, the legislation resulting from these efforts
has been piecemeal in nature, dealing only with limited aspects of the taxation of a few
specific transactions.
Due to the lack of specific legislative provisions regulating the tax aspects of
derivatives, the general principles of South African income tax law have to be applied to
these instruments. This leads to imprecise and inconsistent results, primarily as a result
of the development of these principles long before the widespread use of derivatives in
sophisticated and complex transactions.
The taxation of transactions involving derivative instruments is becoming a subject of
increasing practical importance in South Africa due to the number of derivative
transactions escalating in quantity. The introduction of capital gains tax in South Africa
has added yet a further dimension to the taxation of derivatives.
In light of the increasing volume and value of derivative transactions entered into by
South African taxpayers, it is imperative that clarity regarding the taxation of these
transactions be reached as soon as possible. Any reform and revised tax rules that are
made applicable to these instruments, need to be very flexible, as further developments
in the financial instrument environment are extremely dynamic and changing almost
daily. It is furthermore important that the South African tax system keeps track with
international developments to enhance the country's trading status and to ensure that
cross border transactions do not have anomalous consequences, especially for foreign
counter-parties.
|
22 |
Kapitaalwinsbelastinggevolge by die vermindering of aflossing van skuldLouw, Andries Adriaan 04 1900 (has links)
AFRIKAANSE OPSOMMING: In die praktyk is daar talle situasies waar 'n krediteur wetend of onwetend 'n verwante
of nie-verwante debiteur se skuld verminder of aflos. Voor die instelling van
kapitaalwinsbelasting het daar reeds talle nadelige inkomstebelastinggevolge bestaan
wat uit sodanige vermindering of aflossing kan voortspruit. Die instelling van
kapitaalwinsbelasting en meer spesifiek paragraaf 12(5) van die Agtste Bylae tot die
Inkomstebelastingwet Nr 58 van 1962, het tot gevolg dat die vermindering of
aflossing van skuld ook nadelige kapitaalwinsbelastinggevolge tot gevolg kan he.
Die studie sal kortliks na die moontlike inkomstebelastinggevolge van die
vermindering of aflossing van skuld verwys aangesien hierdie gevolge in sekere
omstandighede die kapitaalwinsbelastinggevolge kan be'invloed. Die
inkomstebelastinggevolge wat bespreek sal word is die vermindering van 'n persoon
se vasgestelde verlies as gevolg van 'n vergelyk met of konsessie deur skuldeisers,
verhalings wat ontstaan by die veIjaring of afstanddoening van skuld, geagte
dividende onderhewig aan sekondere belasting op maatskappye, skenkings
onderhewig aan skenkingsbelasting en ook byvoordele wat ingesluit word by 'n
werknemer se belasbare inkomste.
Die fokus van die studie verskuifvervolgens na die uitleg van paragraaf 12(5) van die
Agtste Bylae tot die Inkomstebelastingwet. Die uitleg van hierdie paragraaf aan die
hand van die normale reels wat geld by die uitleg van belastingwetgewing in die
algemeen sal daarop wys dat die belangrikste elemente wat moet bestaan alvorens
hierdie bepaling sal geld is dat daar 'n skuld moes bestaan het en dat hierdie skuld
verminder of afgelos moes word.
Die studie ondersoek daama die regswerking van die terme 'verminder' en 'aflos' om
te bepaal watter gebeure daartoe aanleiding gee dat skuld verminder of afgelos word.
Na aanleiding van hierdie gebeure wat tot gevolg kan he dat skuld verminder of
afgelos word, word 'n aantal praktiese gevallestudies bespreek waardeur die
toepasssingsveld van paragraaf 12(5) van die Agtste Bylae tot die
Inkomstebelastingwet gei1lustreer kan word.
Uit die ondersoek word daar tot die gevolgtrekking gekom dat daar 'n groot aantal
situasies bestaan wat moontlik kapitaalwinsbelastinggevolge vir 'n persoon kan inhou
wanneer skuld verminder of afgelos word. Die studie bespreek ook moontlike
voorkomende maatreels wat die trefwydte van hierdie bepaling kan inperk. / ENGLISH ABSTRACT: It often occurs in practice that a creditor knowingly or un-knowingly reduces or
discharges a debt owed to it by a related or unrelated debtor. Prior to the introduction
of capital gains tax there already existed many negative income tax implications from
such a reduction or discharge. The introduction of capital gains tax, and more
specificly paragraph 12(5) of the Eighth Schedule to the Income Tax Act No 58 of
1962, now extends these negative income tax consequences to also include negative
capital gains tax implications.
This study will briefly look at the potential income tax implications associated with
reduction or discharge of debt as these implications will also impact on the potential
capital gains implications. The income tax implications that will be discussed are the
reduction of a person's assessed loss as a result of a concession granted by or a
compromise made with his creditors, recoupments as a result of the prescription or
waiver of a debt, deemed dividends subject to secondary tax on companies, donations
subject to donations tax and fringe benefits included in the taxable income of an
employee.
The focus of the study subsequently moves to the interpretation of paragraph 12(5) of
the Eighth Schedule to the Income Tax Act. The most important elements that will
arise from this interpretation, based on the normal rules of the interpretation of
income tax legislation, are that there must be a debt and that the debt must be reduced
or discharged.
The study then examines the legal implications of the terms 'reduce' and 'discharge'
in order to determine what circumstances can have the effect that a debt has been
reduced or discharged. These circumstances are then applied on various examples to
illustrate the scope of paragraph 12(5) of the Eighth Schedule to the Income Tax Act.
From this examination the conclusion is drawn that there are many circumstances that
exists that could lead to capital gains tax implications as a result of the reduction or discharge of a debt. The study also discusses possible preventive measures that could be implemented to prevent the application of paragraph 12(5) of the Eighth Schedule
to the Act.
|
23 |
Die uitreik van aandele ten einde verpligtinge na te kom : onkoste werklik aangegaan vir inkomstebelastingdoeleindes of nieDe Kock, Arno 03 1900 (has links)
Thesis (MAcc)--Stellenbosch University, 2012. / ENGLISH ABSTRACT: This study explores the question whether a company that issues shares in exchange for assets or services incurs expenditure for purposes of the Income Tax Act No 58 of 1962.
It is concluded that a company may, in terms of the Companies Act No 61 of 1973 and the Companies Act No 71 of 2008, only issue shares once it has received consideration for those shares. Unissued shares have no value and are not considered to be assets of the company.
Die ordinary meaning of the word expenditure requires the action of spending an amount of money, funds or other resources. In light of this meaning it is further concluded that the issue of shares does not qualify as expenditure actually incurred by the company. It is further concluded that the principles of what expenditure entails for income tax purposes, laid down in CSARS v Labat Africa Limited, are accurate and should form the basis whenever it is necessary to consider whether expenditure was actually incurred. / AFRIKAANSE OPSOMMING: Die studie is ʼn ondersoek na die vraag of die uitreik van aandele deur ʼn maatskappy, ten einde bates of dienste te bekom, sou beteken dat die maatskappy onkoste werklik aangegaan het vir doeleindes van die Inkomstebelastingwet No. 58 van 1962.
Daar word bevind dat ʼn maatskappy ingevolge die Maatskappywet No. 61 van 1973 en die Maatskappywet No. 71 van 2008 slegs aandele mag uitreik sodra die teenprestasie ontvang is en dat onuitgereikte aandele geen waarde het nie en ook nie bates is van die maatskappy nie.
Die gewone betekenis van die woord onkoste vereis ʼn aksie of handeling van betaling of uitgee van ʼn bedrag geld, fondse of ander hulpbronne. In die lig hiervan word daar bevind dat die uitreik van aandele nie onkoste is wat werklik aangegaan word deur ʼn maatskappy nie. Daar word verder bevind dat die beginsel van wat onkoste behels vir inkomstebelastingdoeleindes, soos neergelê in CSARS v Labat Africa Limited, korrek is en die basis vorm wanneer daar oorweeg word of onkoste werklik aangegaan word.
|
24 |
A comparative study of tax incentives available for small businesses in South Africa, Australia and CanadaDu Toit, Christine 03 1900 (has links)
Thesis (MAcc)--Stellenbosch University, 2012. / ENGLISH ABSTRACT: The comparative study of tax incentive legislation in South Africa, Australia and Canada for small businesses confirmed that tax incentives in South Africa are on par with those of said developed countries. The study compared tax incentives for income tax, capital gains tax and sales tax after the operation of the specific taxes was researched and the tax incentives identified.
It is concluded in the study that there are tax incentives legislated in Australia and Canada that may enhance current South African tax incentives or which may be introduced as new tax incentives. These incentives may facilitate and stimulate economic growth and development in the country. / AFRIKAANSE OPSOMMING: Die vergelykende studie van belastingvergunnings vir klein besighede in Suid-Afrika, Australië en Kanada het bevestig dat belastingvergunnings in Suid-Afrika op standaard is met dié van ontwikkelde lande. Die studie het inkomstebelasting, kapitaalwinsbelasting en verkoopsbelasting vergelyk nadat die werking van die gespesifiseerde belastings nagevors en die belastingvergunnings van toepassing geïdentifiseer is.
In die studie word daar tot die gevolgtrekking gekom dat daar belastingvergunnings in Australië en Kanada is wat of die huidige belastingvergunnings in Suid-Afrika kan uitbrei of as nuwe belastingvergunnings in Suid-Afrika geimplementeer kan word. Die gewysigde en nuwe belastingvergunnings mag moontlik bydra tot verdere groei en ontwikkeling in Suid-Afrika.
|
25 |
Geld die gewone reëls en beginsels van wetsuitleg by die uitleg van belastingwetgewing?Taljaard, Jochemus Cornelius 12 1900 (has links)
Thesis (MComm) -- Stellenbosch University, 2001 / ENGLISH ABSTRACT: For many years the view of South African courts and academics have been
that the literal meaning of words is the cornerstone in regard to the
interpretation of legislative provisions. This view has changed drastically over
the years and academics and the courts have later accepted that the intention
of the legislature is the determining factor in the interpretation of a legislative
provision. In recent years the courts have also moved towards a more
purposive approach in interpreting legislative provisions.
Despite these developments the belief remained with some academics and
especially tax practitioners that in the interpretation of fiscal legislation, the
literal meaning of words remains the deciding factor in the interpretation of
such legislation.
In this study, the courts' approach in the interpretation of fiscal legislation, with
specific reference to the Income Tax Act 58 of 1962 is investigated in order to
determine whether a different approach is followed in the interpretation of
fiscal legislation in contrast with the interpretation of other legislation.
This study first examines the principles applicable in the interpretation of
legislation in general and the developments that have taken place over the
years. This is necessary in order to set a standard against which the
interpretation of fiscal legislation may be measured.
The study then examines the courts' approach to the interpretation of fiscal
legislation and draws a comparison between the interpretation of fiscal
legislation and the interpretation of legislation in general. In this regard the
specific theories of interpretation as well as the presumptions of interpretation
is considered in detail.
From this examination the conclusion is drawn that there are no grounds for
distinguishing between the interpretation of fiscal legislation and other
legislation in general except for the fact that the concept of equity was never
accepted and applied in the context of fiscal legislation whereas it has been in
regard to other legislation. The specific reasons for this exception are also
discussed in detail.
The impact of the Constitution of the Republic of South Africa on the
interpretation of legislation in general and fiscal legislation in particular is then
considered. From this examination the inference is drawn that the
Constitution has no impact on the interpretation of fiscal legislation in so far as
the provisions of Chapter 2 of the Constitution are not infringed by a taxing
provision. / AFRIKAANSE OPSOMMING: Die Suid-Afrikaanse howe en akademici het vir baie jare die mening gehuldig
dat die letterlike betekenis van woorde die hoeksteen van wetsuitleg is.
Hierdie siening het oor die jare aansienlik verander en die howe en akademici
het later aanvaar dat die bedoeling van die wetgewer die bepalende faktor in
die uitleg van enwetsteks is. In afgelope paar jaar het die howe egter 'n meer
doeldienende benadering betreffende wetsuitleg begin volg.
Ten spyte van hierdie verwikkelinge het die persepsie by sommige akademici
en in die besonder belastingpraktisyns bly voortbestaan dat die letterlike
betekenis van woorde in die wet steeds die deurslaggewende faktor by die
uitleg van belastingwetgewing is.
In hierdie studie sal die howe se benadering ten opsigte van die uitleg van
belastingwetgewing, met spesifieke verwysing na die Inkomstebelastingwet
58 van 1962 ondersoek word ten einde vas te stel of en ander benadering
gevolg word by die uitleg van belastingwetgewing teenoor die benadering wat
gevolg word by die uitleg van wetgewing in die algemeen.
Die studie ondersoek eers die beginsels van toepassing by die uitleg van
wetgewing in die algemeen en die ontwikkeling van hierdie beginsels deur die
jare. Hierdie ondersoek is noodsaaklik ten einde en maatstaf te vestig
waarteen die uitleg van belastingwetgewing getoets kan word.
Die studie ondersoek daarna die howe se benadering ten opsigte van die
uitleg van belastingwetgewing en vergelyk die uitleg van belastingwetgewing
met die uitleg van wetgewing in die algemeen. In hierdie verband word die
onderskeie teoriee van wetsuitleg asook die vermoedens van wetsuitleg in
besonderhede ondersoek.
Uit hierdie ondersoek word daar tot die gevolgtrekking gekom dat daar geen
grande is om te onderskei tussen die uitleg van belastingwetgewing en wetgewing in die algemeen nie behalwe vir die feit dat die konsep van
billikheid nooit in die konteks van belastingwetgewing aanvaar en toegepas is
nie. Die spesifieke redes vir hierdie uitsondering word ook in besonderhede
bespreek.
Die impak van die Grondwet van die Republiek van Suid-Afrika op wetsuitleg
in die algemeen en belastingwetgewing in die besonder word dan oorweeg.
Uit hierdie ondersoek word daar tot die gevolgtrekking gekom dat die
Grondwet geen impak op die uitleg van belastingwetgewing het nie vir sover
die bepalings van Hoofstuk 2 van die Grondwet nie geskend word deur die
bepalings van belastingwetgewing nie.
|
26 |
The suitability of a system of group taxation for South Africa, with specific reference to the recommendations of the Katz CommissionKannenberg, Ernst August 12 1900 (has links)
Thesis (MAcc) -- Stellenbosch University, 1999. / ENGLISH ABSTRACT: The current South African tax dispensation does not make provision for a system of
group taxation, which gives rise to various tax anomalies. The Katz Commission
recommended the implementation of a consolidation system of group taxation in their
third interim report. This study investigates the issue of group taxation with the
objective of commenting on the Katz Commission's recommendation.
Chapter 1 explains the purpose of a system of group taxation and discusses the
different forms of group taxation. Furthermore, the theoretical norms or canons are
described which can be used to evaluate the current tax treatment of groups as well as
the different forms of group taxation.
Chapter 2 investigates the current tax treatment of groups by focussing on the tax
implications of various intra-group transactions. It is found that the current tax
treatment of groups does not satisfy the canons of equity, neutrality, efficiency of tax
collection, low administration cost and certainty. Although the absence of a system of
group taxation may contribute to technical simplicity, such an absence also leads to
complex tax schemes that attempt to exploit favourable tax anomalies or avoid
unfavourable anomalies.
Chapter 3 exammes certain Issues which may render a system of group taxation
unnecessary or undesirable, even if such a system leads to better compliance with the
canons of taxation. The conclusion is reached that none of these issues will cause such
a result. With regard to the issue of divisionalisation as an alternative to group
taxation, it is found that section 39 of the Taxation Laws Amendment, No. 20 of 1994
does not provide an accessible mechanism for divisionalisation. Furthermore, groups
may be preferred over divisionalised companies for various commercial and legal
reasons. With regard to the issue of limited liability of individual group companies (a
benefit which is not available to individual divisions of a single company) it is found
that group companies rarely abuse this benefit. In addition, a system of group taxation
will complement the concept of limited liability in promoting economic growth. With
regard to the issue of concentration of economic control and ownership, the conclusion is reached that group taxation will not lead to further concentration of
economic control, as the intra-group shareholding required for group tax treatment
will greatly exceed the intra-group shareholding necessary for economic control. A
system of group taxation may even lead to the broadening of economic ownership by
enabling minority shareholdings in group companies which would otherwise be
structured as divisions of existing companies due to tax considerations.
Chapter 4 compares the loss transfer system of group taxation with the consolidation
system, using the canons of taxation as a reference framework. Because a loss transfer
system is similar to the current tax treatment of groups, in the sense that both
dispensations treat individual group companies as separate taxable entities, the current
tax treatment of groups is included in the above mentioned comparison by
implication. It is found that a consolidation system will satisfy the canons of taxation
the best. Although such a system carries the risk of undue complexity, it should be
possible to design and implement a specific system which will fall within the
administrative capabilities of both taxpayers and tax authorities.
Chapter 5 examines key recommendations of the Katz commission with regard to
group taxation. The writer expresses his agreement with the commission's conclusion
that a consolidation system of group taxation should be implemented gradually.
Certain adjustments to the commission's recommendations are suggested, which will
facilitate quicker implementation and increased simplicity.
The current tax treatment of groups leads to tax anomalies which are highly
unsatisfactory. From a theoretical as well as a practical perspective, the
implementation of a consolidation system of group taxation will represent a
significant improvement to the South African tax dispensation. / AFRIKAANSE OPSOMMING: Suid-Afrika beskik tans nie oor 'n stelsel van groepbelasting nie, wat aanleiding gee
tot verskeie belastinganomaliee. Die Katz-kommissie het die implementering van 'n
gekonsolideerde stelsel van groepbelasting aanbeveel in hulle derde tussentydse
verslag. Hierdie studie ondersoek die aangeleentheid van groepbelasting met die doel
om kommentaar te !ewer op die Katz-kommissie se voorstelle in hierdie verband.
In Hoofstuk 1 word die doel van 'n stelsel van groepbelasting verduidelik, en die
verskillende vorme van groepbelasting bespreek. V erder word die teoretiese norme
beskryf waaraan die huidige belastinghantering van groepe en die verskillende vorme
van groepbelasting gemeet kan word.
In Hoofstuk 2 word die huidige belastinghantering van groepe ondersoek deur te fokus
op die belastingimplikasies van 'n verskeidenheid intra-groep transaksies. Dit word
bevind dat die huidige belastinghantering van groepe nie lei tot billikheid, neutraliteit,
effektiewe invordering van die belastinglas, lae administrasiekoste en sekerheid nie.
En alhoewel die gebrek aan 'n stelsel van groepbelasting bydra tot tegniese eenvoud,
lei dit terselfdetyd tot ingewikkelde, belastinggedrewe skemas wat poog om gunstige
belastinganomaliee te benut en om ongunstige belastinganomaliee te vermy.
In Hoofstuk 3 word sekere aangeleenthede ondersoek wat moontlik 'n stelsel van
groepbelasting onnodig of onwenslik sal maak, selfs al sou so 'n stelsellei tot 'n meer
gebalanseerde bevrediging van die teoretiese belastingnorme. Die slotsom word bereik
dat geeneen van hierdie aangeleenthede we! so 'n resultaat sal he nie. Met betrekking
tot divisionalisering as 'n altematief vir groepbelasting, word beslis dat artikel 39 van
die Wysigingswet op Belastingwette, No. 20 van 1994 nie 'n toeganglike meganisme
daarstel vir die divisionalisering van bestaande groepe nie. Uit 'n kommersiele en
regsoogpunt bestaan daar boonop verskeie redes waarom groepe bo
gedivisionaliseerde maatskappye verkies word. Met betrekking tot die beperkte
aanspreeklikheid van afsonderlike groepmaatskappye ('n voordeel wat nie tot die
beskikking is van divisies van 'n enkele maatskappy nie), word bevind dat groepe in
praktyk selde hierdie voordeel misbruik of selfs benut. Voorts sal 'n stelsel van groepbelasting die konsep van beperkte aanspreeklikheid komplimenteer in die
bevordering van ekonomiese groei. Met betrekking tot die konsentrasie van
ekonomiese beheer en eienaarskap, word beslis dat 'n stelsel van groepbelasting nie
die verdere konsentrasie van ekonomiese beheer sal aanhelp nie, aangesien die
kwalifiserende aandeelhouding wat vir groepbelastinghantering vereis sal word, die
aandeelhouding wat nodig is vir ekonomiese beheer ver sal oorskry. 'n Stelsel van
groepbelasting mag voorts hydra tot die verbreding van aandeeleienaarskap, deurdat
buiteaandeelhouers direkte belange sal kan opneem in ondernemings wat andersins
gestruktureer sou word as divisies van bestaande maatskappye.
In Hoofstuk 4 word verliesoordragstelsels en gekonsolideerde stelsels van
groepbelasting in die algemeen vergelyk, met die belastingnorme as 'n
verwysingsraamwerk. Aangesien 'n verliesoordragstelsel soortgelyk is aan die huidige
belastinghantering van groepe, in die sin dat albei bedelings groepmaatskappye as
afsonderlike belastingentiteite hanteer, word die huidige belastinghantering van
groepe by implikasie ingesluit in die vergelyking. Die slotsom word bereik dat 'n
gekonsolideerde stelsel van groepbelasting die mees bevredigende stelsel is in terme
van 'n gebalanseerde voldoening aan die belastingnorme. Alhoewel 'n
gekonsolideerde stelsel die risiko van kompleksiteit inhou, is dit moontlik om 'n
spesifieke stelsel op sodanige wyse te ontwerp en implementeer dat dit wel
administreerbaar sal wees.
In Hoofstuk 5 word sleutelaanbevelings van die Katz-kommissie met betrekking tot
groepbelasting ondersoek. Die skrywer spreek sy instemming uit met die kommissie
se voorstelle vir die geleidelike implementering van 'n gekonsolideerde stelsel van
groepbelasting. Sekere wysigings word aangebring aan die kommissie se voorstelle,
ten einde verdere eenvoud en spoediger implementering teweeg te bring.
W anneer die belastinganomaliee as gevolg van die huidige belastinghantering van
groepe oorweeg word, is dit duidelik dat die huidige situasie onhoudbaar is. Uit 'n
teoretiese en praktiese oogpunt, sal die implementering van 'n gekonsolideerde stelsel
van groepbelasting 'n beduidende verbetering van die Suid-Afrikaanse
belastingbedeling meebring.
|
27 |
Die rekeningkundige verantwoording van skripdividendskemas in Suid-AfrikaDurand, Ilanie 12 1900 (has links)
Thesis (MAcc)--Stellenbosch University, 2001. / ENGLISH ABSTRACT: Scrip dividends have become increasingly popular in South Africa SInce the
introduction of secondary tax on companies (STC) in the 1993 budget. There is more
than one approach to the treatment of scrip dividend schemes for accounting purposes,
i.e. the reinvestment approach and the capitalisation issue approach. Unfortunately
guidance in the form of a statement or guideline from the South African Institute of
Chartered Accountants has not been forthcoming.
Companies in the United States of America account for stock dividends (capitalisation
issues) in a variety of ways and several studies have analysed the effect of these
accounting treatments on retained earnings and the retained earnings hypothesis.
Several empirical studies in the United States of America and the United Kingdom
have documented marked differences in the ability of companies in these countries to
make distributions to shareholders. For this reason the accounting treatment of stock
dividends and scrip dividends in these countries was examined and compared to the
methods used in South Africa.
Earnings per share is often used by financial analysts to analyse and compare
companies. The methods used in South Africa to account for scrip dividends result in
different calculations of earnings per share and therefore the effect of the different
methods was examined.
This study concludes that the reinvestment approach is theoretically the most
acceptable accounting treatment of scrip dividend schemes In South Africa. A representative sample of companies which declared scrip dividends in the period 1993
to 1999 was selected to determine how these schemes are implemented in the South
African economy. These companies' financial statements were analysed to determine
if the scrip dividend schemes were treated in terms of the accounting method
proposed in this study and if the necessary information was disclosed in the financial
statements. This study finds that different accounting approaches are used in South
Africa, that earnings per share and secondary tax on companies are not calculated
consistently for accounting purposes and that the information disclosed to the users of
the financial statements differs from company to company. It is recommended that
the South African Institute of Chartered Accountants issue accounting guidelines to
the drafters of financial statements regarding scrip dividend schemes. / AFRIKAANSE OPSOMMING: Die verklaring van skripdividende het in Suid-Afrika in gewildheid begin toeneem
met die inwerkingstelling van sekondere belasting op maatskappye (SBM) in die
1993-begroting. Daar is meer as een metode om skripdividendskemas rekeningkundig
te verantwoord, naamlik die herbeleggingsbenadering en die kapitalisasieuitgiftebenadering.
Die Suid-Afrikaanse Instituut vir Geoktrooieerde Rekenmeesters
het egter op hierdie stadium nog nie 'n rekeningkundige standpunt of riglyn oor die
rekeningkundige verantwoording van skripdividendskemas uitgereik nie.
In die Verenigde State van Amerika kan maatskappye kapitalisasie-uitgifte op
verskillende maniere rekeningkundig verantwoord en verskeie studies het die invloed
ondersoek wat hierdie metodes op verdeelbare reserwes en die behoue wins-hipotese
het. Verder het studies wat in die Verenigde State van Amerika en die Verenige
Koningkryk gedoen is, bevind dat hierdie lande se beperkings op verdelings aan
aandeelhouers baie van mekaar verskil en om die rede is die metodes wat in die lande
toegepas word om kapitalisasie-uitgifte en skripdividendskemas rekeningkundig te
verantwoord, ondersoek en met die metodes vergelyk wat in Suid-Afrika toegepas kan
word.
Aangesien verdienste per aandeel dikwels deur finansiele ontleders gebruik word om
maatskappye te ontleed en met mekaar te vergelyk en omdat die metodes wat in Suid-
Afrika toegepas kan word verskillende berekeninge van verdienste per aandeel tot
gevoIg het, is die uitwerking wat die verskillende metodes op die berekening van
verdienste per aandeeI het ook ontleed.
|
28 |
A critical analysis of the capital gains tax system for South AfricaSchwarze, Corrinna Lina 12 1900 (has links)
Thesis (MAcc)--Stellenbosch University, 2002. / ENGLISH ABSTRACT: Capital gains tax has been introduced into the South African tax system for
the first time, on all capital gains arising on or after 1 October 2001. The issue
of whether a capital gains tax will be a suitable tax for South Africa has
already been addressed in the form of Commission Reports. In these reports,
the idea of adopting this tax system was not recommended for the South
African tax system or only a limited capital gains tax was recommended. This
study, however, investigates whether the legislation passed by government is
in line with the basic principles of an efficient and effective tax system.
Firstly, the principles of an efficient and effective tax system are set out as
those originally proposed by Adam Smith as well as those that have been
adapted to modern tax theory. The factors that impact on capital gains tax are
identified and specific criteria are formulated against which the legislated
capital gains tax is evaluated.
The mechanics of the capital gains tax is discussed, classified into the factors
that impact a capital gains tax and evaluated against the abovementioned
criteria.
lt has been held that the introduction of this new form of tax to the South
African tax system addresses many inefficiencies and deficiencies in the
current tax system. lt is the writer's opinion that an investigation as to the
degree to which this tax system adheres to the principles of an effective and
efficient tax system, was thus necessary.
For the purposes of this investigation, the legislated capital gains tax was
evaluated against the principles of neutrality, certainty and simplicity,
administrative efficiency, flexibility, invisibility and equity (fairness, horizontal
and vertical equity). lt was found that the principles of flexibility, fairness and
horizontal equity are achieved. To a lesser extent, the principles of neutrality,
certainty and simplicity, and administrative efficiency are achieved, and the
principles of invisibility and vertical equity have not been achieved. / AFRIKAANSE OPSOMMING: Kapitaalwinsbelasting is nou vir die eerste keer deel van die Suid Afrikaanse
belastingstelsel. Dit affekteer alle kapitale winste wat op of na 1 Oktober 2001
realiseer. Die vraagstuk oar die geskiktheid van kapitaalwinsbelasting vir
Suid-Afrika is alreeds voorheen in die vorm van Kommissieverslae
aangespreek. Geen, of slegs 'n beperkte kapitaalwinsbelasting is in hierdie
verslae aanbeveel vir die Suid-Afrikaanse belastingstelsel. Die studie wat
volg, ondersoek die mate waarin die wetgewing ten opsigte van
kapitaalwinsbelasting aan die basiese beginsels van 'n effektiewe en
doeltreffende belastingstelsel voldoen.
Eerstens word die beginsels van 'n doeltreffende en effektiewe
belastingstelsel uiteengesit as die soos oorspronklik voorgestel deur Adam
Smith, asook die wat deur moderne belastingteorie aangepas is. Tweedens
word die faktore wat kapitaalwins be·invloed ge·identifiseer en laastens word
spesifieke kriteria geformuleer waarteen die kapitaalwinsbelasting geevalueer
sal word.
Die werking van die kapitaalwinsbelasting word bespreek, geklassifiseer in
faktore wat 'n kapitaalwinsbelasting be·invloed en teen die bogenoemde
kriteria geevalueer.
Daar is beslis dat die toevoeging van hierdie vorm van belasting tot die Suid
Afrikaanse belastingstelsel die ondoeltreffendheid en ander gebreke in die
huidige belastingstelsel aanspreek. Dit is die skrywer se mening dat 'n ondersoek ten opsigte van die mate waartoe hierdie belastingstelsel die
beginsels van 'n effektiewe en doeltreffende belastingstelsel nakom, dus
nodig was.
Vir die doeleindes van hierdie ondersoek, is kapitaalwinsbelasting geevalueer
teen die beginsels van neutraliteit, sekerheid en eenvoudigheid,
administratiewe doeltreffendheid, aanpasbaarheid, onsigbaarheid en billikheid
(regverdigheid, horisontale en vertikale billikheid). Daar word tot die
gevolgtrekking gekom dat daar aan die beginsels van aanpasbaarheid,
regverdigheid en horisontale billikheid voldoen word. Tot 'n minder mate, word
daar aan die beginsels van neutraliteit, sekerheid en eenvoudigheid, en
administratiewe doeltreffendheid voldoen. Daar word nie aan die beginsels
van onsigbaarheid en vertikale billikheid voldoen nie.
|
29 |
Die argumente ten gunste van die standaardstelling van handhaafbare verdienste en riglyne daarvoorSteenkamp, L. P 03 1900 (has links)
Study project (MAcc)--Stellenbosch University, 2002. / ENGLISH ABSTRACT: Earnings per share and headline earnings per share are two popular performance measures, in
spite of a number of shortcomings. This assignment argues that an additional performance
measure ought to be disclosed in the financial statements, namely maintainable earnings. The
objective of maintainable earnings is to give an indication of the core earnings of the company,
excluding the effect of non-recurring items that are not expected to influence the financial results in
future years.
The reason for this performance measure is mainly based on the needs of the users of financial
statements and the application that it finds in their analises. There is circumstancial evidence that
shows that users want an indication of maintainable earnings per share. It is also argued that the
disclosure of maintainable earnings is in the interest of the users of financial statements, as they
do not necessarily have the knowledge or time to make the necessary calculations for themselves.
The recommendations made are, among others, that non-recurring items be excluded from the
calculation of headline earnings and that changes in accounting estimates be done retrospectively.
Recommendations for comprehensive disclosure are also made to be of help in the evaluation of
earnings. / AFRIKAANSE OPSOMMING: Verdienste per aandeel en wesensverdienste per aandeel is twee gewilde prestasiemaatstawwe,
ten spyte van 'n aantal tekortkominge. Hierdie werkstuk lewer 'n betoog dat 'n addisionele
maatstaf in die finansiële state geopenbaar behoort te word, naamlik handhaafbare verdienste.
Die doelstelling van handhaafbare verdienste is om 'n aanduiding te gee van die kernverdienste
van 'n maatskappy, geskei van die effek van eenmalige items wat na verwagting nie die resultate
in toekomstige jare sal beïnvloed nie.
Die beweegrede vir so 'n maatstaf word in hoofsaak gebaseer op die behoeftes van gebruikers van
finansiële state en die aanwending wat dit in hul analises kan vind. Daar is
omstandigheidsgetuienis wat daarop dui dat gebruikers In aanduiding verlang van die
handhaafbare verdienste per aandeel. Daar word ook In betoog gelewer dat die openbaarmaking
van handhaafbare verdienste in die belang van gebruikers is, aangesien die moontlikheid bestaan
dat gebruikers nie noodwendig die kennis of tyd het om self so In berekening te maak nie.
Die voorstelle wat gemaak word, behels onder andere die uitsluiting van eenmalige items uit die
berekening van handhaafbare verdienste en dat veranderinge in rekeningkundige ramings
terugwerkend aangepas behoort te word. Daar word ook voorstelle gemaak vir omvattende
openbaarmaking ten einde die oorweging van verdienste te vergemaklik.
|
30 |
The relationships between the price-earnings ratio and selected risk and return and valuation modelsVan Wyk, Tyrone 12 1900 (has links)
Assignment (MAcc )--University of Stellenbosch, 2002. / ENGLISH ABSTRACT: The price-earnings ratio is one of a series of benchmarks developed after the
Great Depression, to measure the fair value of shares on a relative basis. It
originated from the idea that investors buy the earnings of a company and that
the price-earnings ratio provides a consensus indication of the future growth
potential of a company. Therefore, the price-earnings ratio is a rating of a
company's future profitability.
The price-earnings ratio developed, over the years, firstly, into an indicator of
the relative risk associated with a company as the market anomalies
associated with the ratio were investigated and clarified, and the theoretical
background of the ratio integrated with the portfolio theory. It is now clear that
the price-earnings ratio can be a useful indicator of the risk associated with an
investment and the uncertainty associated with the duration of the growth
phase of a company.
Secondly, the price-earnings ratio is also a growth and valuation model with a
theoretical background that can be linked to popular dividend discount models
and the growth opportunities approach to investment valuation. With the use
of the price-earnings ratio it is easy to visualise the relative profitability and the
total investment required to raise a company's rating of future profitability.
This simplicity allows one the opportunity to evaluate the reasonableness and
likelihood of the investment reaching its projected potential profit targets. Lastly, as a result of accounting changes and the different accounting rules in
force today, the price-earnings ratio also assists in the identification and
elimination of the effects of accounting on investment decisions.
It is apparent that the price-earnings ratio possesses the capabilities to assist
investors significantly with the analysis of investment opportunities. / AFRIKAANSE OPSOMMING: Die prys-verdienste verhouding is een van 'n reeks relatiewe maatstawwe
ontwikkel na die Groot Depressie om die redelike waarde van aandele te
bepaal. Dit is gebaseer op die idee dat beleggers die winste van 'n
maatskappy koop en dat die prys-verdienste verhouding 'n konsensus
aanduiding verskaf van die toekomstige groeipotensiaal van 'n maatskappy.
As gevolg hiervan is die prys-verdienste verhouding 'n aanduiding van die
relatiewe toekomstige winsgewendheid van 'n maatskappy.
Die prys-verdienste verhouding het oor die jare ontwikkel, eerstens as 'n
aanwyser van die relatiewe risiko verbonde aan 'n maatskappy soos
abnormaliteite wat daaraan verwant is ondersoek en verklaar is, en die
teorieë onderliggend aan die verhouding ontwikkel het saam met die
portefeulje teorie. Dit is nou duidelik dat die prys-verdienste verhouding 'n
bruikbare aanduider is van die risiko wat geassosieer word met 'n belegging
en die onsekerheid wat gepaard gaan met die duur van die groeifase van 'n
maatskappy.
Tweedens is die prys-verdienste verhouding ook 'n waardasie- en groeimodel
met 'n teoretiese agtergrond wat verband hou met die populêre dividend
verdiskonteringsmodelle en die groeigeleenthede-benadering tot waardasie.
Met die gebruik van die prys-verdienste verhouding is dit maklik om die
relatiewe winsgewendheid en die totale belegging wat benodig word om die
waarde van die relatiewe winsgewendheid van 'n maatskappy te verhoog, tevisualiseer. Hierdie eenvoud verskaf die geleentheid om die redelikheid
en die waarskynlikheid van 'n belegging om sy voorsiene
winsgewendheidsdoelwitte te bereik, te evalueer.
Laastens, as 'n resultaat van die rekeningkundige veranderinge, en die
verskillende rekeningundige reëls huidiglik van toepassing in die wêreld, help
die prys-verdienste verhouding ook met die identifikasie en die eliminasie van
rekeningkundige komplikasies op beleggingsbesluite.
Dit is duidelik dat die prys-verdienste verhouding die vermoë het om die
belegger by te staan met die ontleding van beleggingsgeleenthede.
|
Page generated in 0.1644 seconds