M.Com. (Economics) / The purpose of this study was to analyze the nature and extent of capital taxes as a component of the total tax structure and to investigate the applicability and effectiveness of this kind of tax in South Africa. The different capital taxes were discussed individually. Standard norms and criteria used to evaluate taxes have been identified. These criteria were applied in an analysis of the different capital taxes. Tables, figures and international comparisons were also employed. The definition of capital is problematic. Historically capital has been compared with a tree while income has been likened with the fruit of the tree. For purposes of this study capital is defined, for an individual, as the current value of the individual's expected future income. Capital as an asset is defined as all assets that are not intended for immediate use. Arguments in favour of capital tax centre around moral issues like equality. It may be argued in favour of capital tax that the implicit income of capital should be taxed in order to maintain economic neutrality of the tax system. Arguments against capital tax concentrate on the negative implications thereof on certain economic entities. Certain practical considerations are highlighted. It may be argued that capital tax is immoral since the abstention of consumption (saving) is taxed...
| Identifer | oai:union.ndltd.org:netd.ac.za/oai:union.ndltd.org:uj/uj:13191 |
| Date | 09 February 2015 |
| Source Sets | South African National ETD Portal |
| Detected Language | English |
| Type | Thesis |
| Rights | University of Johannesburg |
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