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.
| Identifer | oai:union.ndltd.org:netd.ac.za/oai:union.ndltd.org:sun/oai:scholar.sun.ac.za:10019.1/19900 |
| Date | 04 1900 |
| Creators | Louw, Andries Adriaan |
| Contributors | Van Schalkwyk, L., Stellenbosch University. Faculty of Economic and Management Sciences. Dept. of Accountancy., Davids, Ricardo |
| Publisher | Stellenbosch : Stellenbosch University |
| Source Sets | South African National ETD Portal |
| Language | en_ZA |
| Detected Language | Unknown |
| Type | Thesis |
| Format | 97 p. |
| Rights | Stellenbosch University |
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