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Investigating a new wealth tax in South Africa: Lessons from international experience

- Arendse, Jacqueline A, Stack, Elizabeth M

Authors: Arendse, Jacqueline A , Stack, Elizabeth M
Date: 2018
Subjects: To be catalogued
Language: English
Type: text , article
Identifier: http://hdl.handle.net/10962/69434 , vital:29536 , https://jefjournal.org.za/index.php/jef/article/view/175/193
Description: In recent years, there has been an increasing focus on new sources of taxation, including wealth tax. In South Africa, two phenomena have driven the focus on wealth tax. Firstly, the need for additional tax revenue to fund an ongoing and growing budget deficit, exacerbated by a prolonged period of low economic growth, rising government debt and a very small base of individual taxpayers. Secondly, the fact that South Africa has one of the most unequal societies in the world. The dual demands of increased tax revenue and economic inequality have converged around wealth tax as a possible panacea to both problems. Although South Africa has a long history of wealth transfer tax in the form of estate duty and donations tax, there has never been a tax on the net wealth holdings of individuals during their lifetime. Internationally, numerous countries have used wealth tax in various forms, including inheritance tax, gift tax, recurrent wealth tax and non-recurrent wealth tax. This study examines some of the international experiences with these three categories of wealth tax, seeking lessons and experiences that can inform the debate around the viability of a new wealth tax in South Africa.
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Date Issued: 2018

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Rewarding tax compliance: taxpayers’ attitudes and beliefs

- Bornman, Marina, Stack, Elizabeth M

Authors: Bornman, Marina , Stack, Elizabeth M
Date: 2015
Subjects: To be catalogued
Language: English
Type: article , text
Identifier: http://hdl.handle.net/10962/61039 , vital:27931
Description: In a society the tax climate is determined by the interaction between taxpayers and tax authorities. In a ‘service and client’ climate, taxpayers do not expect authorities to automatically suspect them of being tax evaders. Evidence suggests that recognising good tax behaviour with strategies of rewards has a positive effect on voluntary tax compliance. Principles derived from the cognitive evaluation theory predict that when feelings of competence are affirmed and this is accompanied by a sense of autonomy it can enhance the intrinsic motivation for an action. The present research surveyed the attitudes and beliefs of taxpayers involved in small business on being rewarded for tax compliance. Results were corroborated with the principles of the cognitive evaluation theory and it was found that that the principles of the theory are applicable to rewarding tax compliance behaviour.
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Date Issued: 2015

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Specific rewards for tax compliance: responses of small business owners in Ekurhuleni, South Africa

- Bornman, Marina, Stack, Elizabeth M

Authors: Bornman, Marina , Stack, Elizabeth M
Date: 2015
Subjects: To be catalogued
Language: English
Type: text , article
Identifier: http://hdl.handle.net/10962/145325 , vital:38428 , https://heinonline.org/HOL/Page?handle=hein.journals/ejotaxrs13anddiv=35andg_sent=1andcasa_token=andcollection=journals
Description: The literature reviewed documents the positive effects of rewards in encouraging desired behaviour, but rewards may have a crowding-in effect, strengthening intrinsic motivation, or a crowding-out effect, weakening it. External interventions may therefore be perceived as supportive, fostering self-esteem and self-determination, while those perceived as controlling may have the opposite effect. A number of countries have adopted a strategy of rewarding tax compliance. The rewards range from certificates awarded to compliant taxpayers, to privilege cards providing opportunities for discounts or special treatment, to lotteries in which compliant taxpayers can participate. The reward strategies are often accompanied by publicity programmes. Two such hypothetical strategies were presented to participants in a survey conducted amongst small business owners in Ekurhuleni, South Africa, to gauge their responses.
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Date Issued: 2015

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The relationship between double taxation agreements and the provisions of the South African Income Tax Act

- Stack, Elizabeth M

Authors: Stack, Elizabeth M
Date: 2014
Subjects: To be catalogued
Language: English
Type: Article
Identifier: vital:21102 , http://hdl.handle.net/10962/6384 , http://journals.co.za/content/jefs/7/2/EJC157823
Description: This article investigates the legal status of Double Taxation Agreements, and the relationship between Double Taxation Agreements, which are concluded in terms of section 108 of the Income Tax Act, and the provisions of the Income Tax Act (taking into account the provisions of the Constitution, and the national and international rules for the interpretation of statutes). An important conclusion reached was that as the Vienna Convention on the Law of Treaties represents customary international law and as such forms part of South African law, the principles contained in the treaty should be taken into account when interpreting South African legislation (including Double Taxation Agreements).The final conclusion of the research was that Double Taxation Agreements have a dual nature – forming part of domestic legislation and being classified as international agreements. The provisions of the Double Taxation Agreement should be taken as overriding any conflicting legislation in the Income Tax Act.
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Date Issued: 2014

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An investigation into the time-saving benefits of using a computerised taxation program

- Forster, Rory, Stack, Elizabeth M

Authors: Forster, Rory , Stack, Elizabeth M
Date: 2008
Subjects: To be catalogued
Language: English
Type: Conference paper
Identifier: vital:6065 , http://hdl.handle.net/10962/d1004610
Description: Software programs designed to calculate the tax liability of individuals and other types of tax entity are being designed and used with increasing frequency. Research done in the United States of America appears to indicate that these programs do not achieve any saving in time and, in fact, may take longer to use than to complete a tax return by hand. As the South African revenue collection system appears to be moving closer to a self-assessment system, where the calculation of tax owing will be the responsibility of the taxpayer, the research essay sets out to determine whether there is a saving in time when calculating a tax liability using a tax software program, instead of calculating it by hand. In addition, the research aims to determine how much time, on average, is saved or lost, using such a program, and whether there is any correlation between the time taken to perform a calculation by hand and that using the software program. It does so by comparing the average estimated time it would take to complete tax calculations for individuals by hand with the average time taken to complete the same tax calculations using a tax software program. The average time taken to do the calculations by hand is based on the time allocation given for questions by the authors of a published question bank for university students. The time taken using software is determined by using a stop-watch to time each question being processed. The results, subject to assumptions made in carrying out the research, show that there is a substantial saving in time using the software program. Based on the data, however, the results indicate a weak correlation between the estimated time taken to do a calculation by hand and the estimated time using the software program. Possible reasons for the weak correlation are discussed. A recommendation is also made for the standardization and certification of existing tax calculation software.
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Date Issued: 2008

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Reflections on the supervision of postgraduate research in Accounting Departments

- Stack, Elizabeth M

Authors: Stack, Elizabeth M
Date: 2008
Subjects: To be catalogued
Language: English
Type: Conference paper
Identifier: vital:6067 , http://hdl.handle.net/10962/d1004614
Description: The need to enhance the research profile of accounting departments and schools of accounting at South African universities and to increase the number of students engaging in postgraduate studies mirrors the challenges faced by universities in Australia and the United Kingdom two decades ago. Coupled with these imperatives is the recognition of the need for supervisor training in accounting departments and schools of accounting and the lack of opportunities for gaining experience in postgraduate research supervision due to the small number of students in the accounting field wishing to undertake research-based studies. This article reviews relevant literature on training for the supervisors of postgraduate research students, documents the personal experience and observations of the writer and, drawing on these sources, makes recommendations for the training of supervisors. The recommendations include a model for the training of supervisors reflecting two perspectives: “on-the-job” training and the introduction of a departmental supervision guide setting out aspects of best practice. Issues to be addressed in the training of supervisors include training in research methodology, technical expertise, managing the supervision relationship, quality control, providing constructive criticism and feedback, and ethical concerns.
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Date Issued: 2008

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Taxation and electronic commerce

- Stelloh, Marcus M, Stack, Elizabeth M

Authors: Stelloh, Marcus M , Stack, Elizabeth M
Date: 2008
Subjects: To be catalogued
Language: English
Type: Conference paper
Identifier: vital:6066 , http://hdl.handle.net/10962/d1004611
Description: Transactions conducted using the Internet have expanded dramatically in the past few years and countries and their governments have become concerned about the consequences that electronic commerce may have on their tax revenues. Because of this many organisations and inter-governmental agencies have met to try to design a solution that will be compatible with the systems of the various countries and achieve tax neutrality. A number of proposals were made and discussed to try to design a fair and efficient e-tax system. The proposed system that is ultimately adopted must consider different tax bases and systems in order to achieve this. In this research the impact of e-commerce on the imposition of income tax was briefly referred to and four different proposals for levying value-added tax or sales tax were analysed in order to compare the advantages and disadvantages of each and to determine which system would most adequately address the needs of e-commerce. Certain modifications and additions to the proposed systems have been suggested in order to satisfy the specific needs of the South African tax system, while still taking other countries’ tax systems into account. Using Amazon.com Inc. and Skype Technologies South Africa Limited as examples, it is demonstrated how the new amended system will work. It was found that the proposed systems and the system adapted to meet the South African needs would, with a few relatively minor changes to the Value-Added Tax legislation, be suitable for the purposes of imposing value-added tax on e-commerce transactions.
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Date Issued: 2008

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Increasing convergence between the recognition of an intangible asset for financial accounting purposes and strategic management accounting and project management techniques

- Seyfert, W, Rosenberg, David, Stack, Elizabeth M

Authors: Seyfert, W , Rosenberg, David , Stack, Elizabeth M
Date: 2006
Subjects: To be catalogued
Language: English
Type: Article
Identifier: vital:6074 , http://hdl.handle.net/10962/d1003824 , http://dx.doi.org/10.1108/10222529200600012
Description: New management techniques such as 'just-in-time', 'lean manufacturing' and 'Six Sigma' allow management accountants to shift their focus from the management and control of production processes to the management of strategic issues. This paradigm shift resulted from shorter product life cycles, due to technological advances and a more competitive business environment. Recent revisions to the International Accounting Standards which are particularly supportive of life cycle costing and project management are likely to increase the focus on strategic management accounting further. This article describes developments in management accounting and the recent convergence of financial reporting in terms of International Accounting Standards with strategic management accounting and project management techniques. Strategic management accounting (particularly life cycle costing) involves applying project management techniques and using the calculus of investment to manage the project as a whole. This contrasts with managing only costs and revenues during the manufacturing phase of a project. The article demonstrates that project management techniques and the calculus of investment provide the information needed to account for the value of a project in terms of IAS 38: Intangible Assets. This will ultimately give rise to both improved decision-making and more relevant financial reporting.
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Date Issued: 2006

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The deductibility of interest

- Gunn, Richard, Stack, Elizabeth M

Authors: Gunn, Richard , Stack, Elizabeth M
Date: 2006
Subjects: To be catalogued
Language: English
Type: Conference paper
Identifier: vital:6063 , http://hdl.handle.net/10962/d1004603
Description: The deduction of interest expenditure, for the purpose of calculating the South African taxable income on which normal tax is levied, must satisfy the requirements of the preamble to section 11 and section 11(a) of the Income Tax Act 58 of 1962, read with section 23(g), unless a particular section makes specific provision for its deduction. There appears to be a presumption that if interest expenditure is incurred in the production of income derived from carrying on a trade, it is deductible and we need look no further. This presumption may underlie the 2005 amendment of sub-section (2) of section 24J, which provides that interest is deductible provided it has been incurred “in the production of income” and “for the purposes of trade” (sections 11(a) and 23(g)). This paper discusses the deductibility of interest and, in particular, whether there are circumstances in which interest paid on a loan used to acquire a capital asset could be of a capital nature. The provisions of the Income Tax Act and court decisions relating to the deductibility of interest, as well as opinions expressed by authoritative writers on tax, are subjected to critical analysis. The paper first distinguishes the tests for determining whether an expense has been incurred “in the production of income” and whether the expense is “of a capital nature”. Specific court decisions relating to the deductibility of interest are then analysed. The research considers section 24J of the Act, to determine whether its provisions have settled the debate, and refers briefly to the provisions of section 11(bB), in the context of the research question. The conclusion reached in the research is that there are occasions where the courts appear to have confused the tests for determining whether interest expenditure was incurred “in the production of income” and whether it is “of a capital nature”, in certain instances have also failed to address the question of the capital or revenue nature of the interest expenditure under scrutiny, and that the matter does not appear to be settled that interest incurred on funds used to acquire a capital asset used to produce trade income is automatically deductible.
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Date Issued: 2006

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