Funding higher education and training in South Africa: a comparative study of tax incentive measures, in conjunction with a dedicated tax
- Authors: Holm, Darryn
- Date: 2018
- Subjects: Education, Higher -- Finance , Education, Higher -- South Africa , Tax incentives -- Law and legislation -- South Africa , Student aid -- South Africa , Universities and Colleges -- Taxation -- Law and legislation -- South Africa , South Africa. Income Tax Act, 1962
- Language: English
- Type: text , Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10962/59445 , vital:27606
- Description: Higher education and training in South Africa in the post-Apartheid era has never been more volatile than it is currently, some two decades into democracy. Despite the many advances and achievements of higher education, the student protests of 2015 and 2016 have given expression to underlying fault-lines, including increasing student expectations and frustrations with regard to access and funding. This research was undertaken to document the underlying historical issues and models pertaining to funding within the higher education and training sector as well as the existing higher education and training taxation policies and incentives enacted in South Africa and selected international jurisdictions. This was done with a view to providing a framework for higher education and training tax policy formation in South Africa to assist in meeting its higher education and training “access and affordability” targets as set out in the National Plan on Higher Education and the Higher Education White Paper, while at the same time not hindering economic growth. A doctrinal research methodology was adopted in this study as it mainly analysed and interpreted legislation and policy documents and therefore the approach was qualitative in nature. An extensive literature survey was done in order to document the various internationally selected legislated higher education and training tax policies and incentives. The literature indicated that there are widespread funding perspectives and initiates, and that international tax policies enacted with the aim of ensuring that higher education and training is more accessible and affordable to the public, is stable and effective in certain jurisdictions. It is submitted that while a higher education dedicated tax may not be sufficiently effective in South Africa, a combination of broad-based tax incentives will help to promote the change to a more affordable and stable higher education funding system, whilst not preventing growth through sustainable development.
- Full Text:
- Authors: Holm, Darryn
- Date: 2018
- Subjects: Education, Higher -- Finance , Education, Higher -- South Africa , Tax incentives -- Law and legislation -- South Africa , Student aid -- South Africa , Universities and Colleges -- Taxation -- Law and legislation -- South Africa , South Africa. Income Tax Act, 1962
- Language: English
- Type: text , Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10962/59445 , vital:27606
- Description: Higher education and training in South Africa in the post-Apartheid era has never been more volatile than it is currently, some two decades into democracy. Despite the many advances and achievements of higher education, the student protests of 2015 and 2016 have given expression to underlying fault-lines, including increasing student expectations and frustrations with regard to access and funding. This research was undertaken to document the underlying historical issues and models pertaining to funding within the higher education and training sector as well as the existing higher education and training taxation policies and incentives enacted in South Africa and selected international jurisdictions. This was done with a view to providing a framework for higher education and training tax policy formation in South Africa to assist in meeting its higher education and training “access and affordability” targets as set out in the National Plan on Higher Education and the Higher Education White Paper, while at the same time not hindering economic growth. A doctrinal research methodology was adopted in this study as it mainly analysed and interpreted legislation and policy documents and therefore the approach was qualitative in nature. An extensive literature survey was done in order to document the various internationally selected legislated higher education and training tax policies and incentives. The literature indicated that there are widespread funding perspectives and initiates, and that international tax policies enacted with the aim of ensuring that higher education and training is more accessible and affordable to the public, is stable and effective in certain jurisdictions. It is submitted that while a higher education dedicated tax may not be sufficiently effective in South Africa, a combination of broad-based tax incentives will help to promote the change to a more affordable and stable higher education funding system, whilst not preventing growth through sustainable development.
- Full Text:
Measuring the elasticity of electricity demand in South Africa: implications for future demand and supply
- Authors: Kosiorek, Sebastian
- Date: 2018
- Subjects: Electric power consumption -- South Africa , Electric power distribution -- South Africa , Electric power production -- South Africa , Electric power failures -- South Africa , Electric utilities -- Law and legislation -- South Africa , Autoregression (Statistics) , Renewable energy sources -- South Africa , Energy policy -- South Africa , Integrated Resource Plan
- Language: English
- Type: text , Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10962/62472 , vital:28196
- Description: A key economic issue for government is the ability to effectively match electricity supply to electricity demand, because of the substantial economic losses in the case of where there is too little supply, or the waste of scarce resources where there is too much supply. In the case of South Africa, this issue, the importance of which was highlighted by the power shortages and associated “rolling blackouts” experience in 2008, has led to the creation of the Integrated Resource Plan (IRP) as a means to decide how energy policy will be developed. Recently, however, the IRP 2010 and its subsequent 2013 and 2016 (draft) updates have been criticised as being too optimistic in regards to their projections of economic growth and electricity demand, making the recommendations in these documents to be flawed. Using monthly data from January 1990 to May 2017, together with Autoregressive Distributed Lag (ARDL) bounds testing for cointegration, this paper measures changes in the elasticity of electricity demand as a result of the massive price hikes over the past decade. Thereafter, the implications of changed electricity as well as possibly lower Gross Domestic Product (GDP) growth in the future for forecasts of possible future demand for electricity are examined. From these revised forecasts, it is possible to make appropriate recommendations in regards to electricity supply policy for South Africa including what possible energy mix is needed as well as the requirements for creating new supply to meet possible future demand. It is concluded that future electricity demand is likely to be much lower than forecast in the IRP 2010 and IRP 2013 documents. The degree of uncertainty in electricity demand growth suggests that large-scale increases in supply capacity taking years to construct, such as coal or nuclear, should be avoided. Small, incremental increases in supply that are able to come on stream swiftly, such as gas, solar and wind power, are likely to be more appropriate for meeting South Africa’s future needs.
- Full Text:
- Authors: Kosiorek, Sebastian
- Date: 2018
- Subjects: Electric power consumption -- South Africa , Electric power distribution -- South Africa , Electric power production -- South Africa , Electric power failures -- South Africa , Electric utilities -- Law and legislation -- South Africa , Autoregression (Statistics) , Renewable energy sources -- South Africa , Energy policy -- South Africa , Integrated Resource Plan
- Language: English
- Type: text , Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10962/62472 , vital:28196
- Description: A key economic issue for government is the ability to effectively match electricity supply to electricity demand, because of the substantial economic losses in the case of where there is too little supply, or the waste of scarce resources where there is too much supply. In the case of South Africa, this issue, the importance of which was highlighted by the power shortages and associated “rolling blackouts” experience in 2008, has led to the creation of the Integrated Resource Plan (IRP) as a means to decide how energy policy will be developed. Recently, however, the IRP 2010 and its subsequent 2013 and 2016 (draft) updates have been criticised as being too optimistic in regards to their projections of economic growth and electricity demand, making the recommendations in these documents to be flawed. Using monthly data from January 1990 to May 2017, together with Autoregressive Distributed Lag (ARDL) bounds testing for cointegration, this paper measures changes in the elasticity of electricity demand as a result of the massive price hikes over the past decade. Thereafter, the implications of changed electricity as well as possibly lower Gross Domestic Product (GDP) growth in the future for forecasts of possible future demand for electricity are examined. From these revised forecasts, it is possible to make appropriate recommendations in regards to electricity supply policy for South Africa including what possible energy mix is needed as well as the requirements for creating new supply to meet possible future demand. It is concluded that future electricity demand is likely to be much lower than forecast in the IRP 2010 and IRP 2013 documents. The degree of uncertainty in electricity demand growth suggests that large-scale increases in supply capacity taking years to construct, such as coal or nuclear, should be avoided. Small, incremental increases in supply that are able to come on stream swiftly, such as gas, solar and wind power, are likely to be more appropriate for meeting South Africa’s future needs.
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Non-government organizations’ adoption of knowledge management systems to enhance service delivery of projects in Grahamstown in the Makana region of the Eastern Cape Province, South Africa
- Authors: Sherif, Nabiha Mohammed
- Date: 2018
- Subjects: Knowledge management , Organizational learning , Non-governmental organizations South Africa Makhanda , Human services South Africa Makhanda
- Language: English
- Type: text , Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10962/61723 , vital:28052
- Description: The object of this research is to enhance the performance of non-government organizations in the Makana region of the Eastern Cape Province of South Africa by the use of knowledge management practices and principles. Non-government organizations face several service delivery challenges that affect their performance. Knowledge management assists in enhancing performance by means of organizational learning. However, the adoption of knowledge management systems has been limited to the profit-making sector. This study includes an evaluation of the contributing factors influencing the adoption of knowledge management and the extent to which non-government organizations use knowledge management to promote organizational learning. An interpretivist, qualitative case study approach was used on five non-government organizations cases from the Makana region of the Eastern Cape Province of South Africa. A suitability profile sampling method was developed to select the non-government organization cases. The participants in the research include non-government organizations’ managers, employees and volunteers. Literature was explored to gain a better understanding of the research area. The research was initiated by an open-ended questionnaire to gather data from the participants, followed by a focus group to enrich the interpretation of the findings. The research proposes a framework to facilitate the adoption of knowledge management systems in non-government organizations. The findings of the research are intended to enhance the performance of non-government organizations projects by means of the use of knowledge management systems.
- Full Text:
- Authors: Sherif, Nabiha Mohammed
- Date: 2018
- Subjects: Knowledge management , Organizational learning , Non-governmental organizations South Africa Makhanda , Human services South Africa Makhanda
- Language: English
- Type: text , Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10962/61723 , vital:28052
- Description: The object of this research is to enhance the performance of non-government organizations in the Makana region of the Eastern Cape Province of South Africa by the use of knowledge management practices and principles. Non-government organizations face several service delivery challenges that affect their performance. Knowledge management assists in enhancing performance by means of organizational learning. However, the adoption of knowledge management systems has been limited to the profit-making sector. This study includes an evaluation of the contributing factors influencing the adoption of knowledge management and the extent to which non-government organizations use knowledge management to promote organizational learning. An interpretivist, qualitative case study approach was used on five non-government organizations cases from the Makana region of the Eastern Cape Province of South Africa. A suitability profile sampling method was developed to select the non-government organization cases. The participants in the research include non-government organizations’ managers, employees and volunteers. Literature was explored to gain a better understanding of the research area. The research was initiated by an open-ended questionnaire to gather data from the participants, followed by a focus group to enrich the interpretation of the findings. The research proposes a framework to facilitate the adoption of knowledge management systems in non-government organizations. The findings of the research are intended to enhance the performance of non-government organizations projects by means of the use of knowledge management systems.
- Full Text:
Regional value chains and development integration in the SADC Region: the case of the pharmaceutical industry
- Authors: Faydherbe, Sean
- Date: 2018
- Subjects: Pharmaceutical industry -- Africa, Southern , Southern African Development Community , Africa, Southern -- Economic integration , Regional value chains (RVCs) , Global value chains (GVCs)
- Language: English
- Type: text , Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10962/62906 , vital:28309
- Description: This thesis investigates how regional value chains (RVCs) can be used to further development integration in the Southern African Development Community (SADC) region with a focus on the pharmaceutical manufacturing industry. The study is motivated by the apparent lack of attention given to the development of the pharmaceutical manufacturing industry in Southern Africa, the region’s high disease burden and the identification of the industry as economically and socially important by the SADC (2015) Industrialisation Strategy and Roadmap and the Department of Trade and Industry (DTI) (2017a) Industrial Policy Action Plan (IPAP). At the same time, South Africa and other countries in the region are exploring alternative approaches to regional integration, given the failure or stagnation of numerous formal integration arrangements throughout Africa, which have often lead to polarised rather than balanced development. This thesis argues that the development of RVCs within SADC may be an effective tool for development integration in the region, particularly in sectors such as pharmaceuticals. The study employs a value chain framework for the analysis and discusses development integration options, drawing on the East Asian experience with RVCs and on case studies involving India in the case of the pharmaceutical industry. It provides a sector profile of the industry in South Africa, due to its dominant status in the region, and also of Zimbabwe, due to that country’s potential to become a pharmaceutical industry leader in the region once again. The thesis first explores the important theoretical aspects underlying value chain analysis, namely governance and upgrading, while also outlining the rise of global value chains (GVCs). It analyses the complex relationships between RVCs and GVCs, and RVCs and regional integration. From this it concludes that RVCs are a stepping stone to participation in GVCs and that RVCs should be promoted within a development integration framework through strong regional cooperation. Value chain analysis is applied to the entire pharmaceutical manufacturing industry with a focus on SADC. The thesis examines how the sector is evolving with manufacturing multinational corporations (MNCs) outsourcing production and setting up centres of excellence in regional production hubs. The study argues that with the application of recommended policies, RVCs in sectors such as pharmaceutical manufacturing may provide a tool for achieving balanced development in the region. However, the study also finds that the pharmaceutical industry in SADC lags a long way behind the rest of the world and that many countries and firms will need to begin at the bottom of the value chain, with formulation, in order to contribute to the development of RVCs. The thesis concludes with recommendations on what policies are needed to foster the growth and development of pharmaceutical RVCs in the SADC region. These include strengthening public procurement, providing incentives for investment into the industry, incremental production and incremental export volumes, as well as certainty and predictability around the regulatory and business environment. Further, policy should aim to construct synergies and linkages on the ground between health systems and industrial developments; regulate service links important to pharmaceutical manufacturing; develop a coherent regional policy agenda; remove unnecessary non-tariff barriers to trade in the region and, in line with development integration, implement trade policy along with trade infrastructure that is efficient and includes airports, rail, roads and ports, as well as effective access to the internet.
- Full Text:
- Authors: Faydherbe, Sean
- Date: 2018
- Subjects: Pharmaceutical industry -- Africa, Southern , Southern African Development Community , Africa, Southern -- Economic integration , Regional value chains (RVCs) , Global value chains (GVCs)
- Language: English
- Type: text , Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10962/62906 , vital:28309
- Description: This thesis investigates how regional value chains (RVCs) can be used to further development integration in the Southern African Development Community (SADC) region with a focus on the pharmaceutical manufacturing industry. The study is motivated by the apparent lack of attention given to the development of the pharmaceutical manufacturing industry in Southern Africa, the region’s high disease burden and the identification of the industry as economically and socially important by the SADC (2015) Industrialisation Strategy and Roadmap and the Department of Trade and Industry (DTI) (2017a) Industrial Policy Action Plan (IPAP). At the same time, South Africa and other countries in the region are exploring alternative approaches to regional integration, given the failure or stagnation of numerous formal integration arrangements throughout Africa, which have often lead to polarised rather than balanced development. This thesis argues that the development of RVCs within SADC may be an effective tool for development integration in the region, particularly in sectors such as pharmaceuticals. The study employs a value chain framework for the analysis and discusses development integration options, drawing on the East Asian experience with RVCs and on case studies involving India in the case of the pharmaceutical industry. It provides a sector profile of the industry in South Africa, due to its dominant status in the region, and also of Zimbabwe, due to that country’s potential to become a pharmaceutical industry leader in the region once again. The thesis first explores the important theoretical aspects underlying value chain analysis, namely governance and upgrading, while also outlining the rise of global value chains (GVCs). It analyses the complex relationships between RVCs and GVCs, and RVCs and regional integration. From this it concludes that RVCs are a stepping stone to participation in GVCs and that RVCs should be promoted within a development integration framework through strong regional cooperation. Value chain analysis is applied to the entire pharmaceutical manufacturing industry with a focus on SADC. The thesis examines how the sector is evolving with manufacturing multinational corporations (MNCs) outsourcing production and setting up centres of excellence in regional production hubs. The study argues that with the application of recommended policies, RVCs in sectors such as pharmaceutical manufacturing may provide a tool for achieving balanced development in the region. However, the study also finds that the pharmaceutical industry in SADC lags a long way behind the rest of the world and that many countries and firms will need to begin at the bottom of the value chain, with formulation, in order to contribute to the development of RVCs. The thesis concludes with recommendations on what policies are needed to foster the growth and development of pharmaceutical RVCs in the SADC region. These include strengthening public procurement, providing incentives for investment into the industry, incremental production and incremental export volumes, as well as certainty and predictability around the regulatory and business environment. Further, policy should aim to construct synergies and linkages on the ground between health systems and industrial developments; regulate service links important to pharmaceutical manufacturing; develop a coherent regional policy agenda; remove unnecessary non-tariff barriers to trade in the region and, in line with development integration, implement trade policy along with trade infrastructure that is efficient and includes airports, rail, roads and ports, as well as effective access to the internet.
- Full Text:
Suicide and the South African business cycle: a time series approach, 2006-2015
- Authors: Pitot, Amaury
- Date: 2018
- Subjects: Suicide -- South Africa , Business cycles -- South Africa , Autoregression (Statistics) , Divorce -- South Africa , AutoRegressive Distributed Lagged model (ARDL)
- Language: English
- Type: text , Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10962/62286 , vital:28150
- Description: Suicide is a major public health issue and imposes substantial economic cost on society every year. For example, the World Health Organisation has estimated that there are over one million completed suicides every year, of which about 75% occur in middle and low income countries. In South Africa, suicide is one of the leading causes of non-natural death, but remains under-researched from an economic point of view due to limited data availability. Using monthly data for the period 2006-2015, this study explores whether there is a relationship between suicide and the South African business cycle. This is further broken down to examine how, if at all, this relationship with the business cycle differs across age-, gender-, and racial groups. The primary source of data for suicide and demographic groups were obtained from Statistics South Africa’s Mortality and Causes of Death Data from Death Notification released since 2006. The coincident indicator was used as a proxy for the business cycle as it represents the business cycle in real time. Using an autoregressive distributed lagged model (ARDL), a long run relationship was established with suicide being a function of the coincident indicator, divorce and fertility rate. The findings of this paper show that the overall suicide rate moves with the South African business cycle (i.e. pro-cyclical relationship) in the long run. This relationship holds for males, the black population group and the 15-29 and 30-44 age categories. In addition, the divorce rate had a positive and significant relationship with the overall suicide rate, as well as suicide among the black population group and for the 30-44 age category, whereas fertility rates had no significant relationship with suicide.
- Full Text:
- Authors: Pitot, Amaury
- Date: 2018
- Subjects: Suicide -- South Africa , Business cycles -- South Africa , Autoregression (Statistics) , Divorce -- South Africa , AutoRegressive Distributed Lagged model (ARDL)
- Language: English
- Type: text , Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10962/62286 , vital:28150
- Description: Suicide is a major public health issue and imposes substantial economic cost on society every year. For example, the World Health Organisation has estimated that there are over one million completed suicides every year, of which about 75% occur in middle and low income countries. In South Africa, suicide is one of the leading causes of non-natural death, but remains under-researched from an economic point of view due to limited data availability. Using monthly data for the period 2006-2015, this study explores whether there is a relationship between suicide and the South African business cycle. This is further broken down to examine how, if at all, this relationship with the business cycle differs across age-, gender-, and racial groups. The primary source of data for suicide and demographic groups were obtained from Statistics South Africa’s Mortality and Causes of Death Data from Death Notification released since 2006. The coincident indicator was used as a proxy for the business cycle as it represents the business cycle in real time. Using an autoregressive distributed lagged model (ARDL), a long run relationship was established with suicide being a function of the coincident indicator, divorce and fertility rate. The findings of this paper show that the overall suicide rate moves with the South African business cycle (i.e. pro-cyclical relationship) in the long run. This relationship holds for males, the black population group and the 15-29 and 30-44 age categories. In addition, the divorce rate had a positive and significant relationship with the overall suicide rate, as well as suicide among the black population group and for the 30-44 age category, whereas fertility rates had no significant relationship with suicide.
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Taxation of non-resident digital companies providing services in South Africa
- Authors: Shumba, Marilyn Tatenda
- Date: 2018
- Subjects: Electronic commerce Taxation Law and legislation South Africa , Value-added tax South Africa , Organisation for Economic Co-operation and Development , Taxation Law and legislation South Africa , Business enterprises, Foreign Taxation Law and legislation South Africa
- Language: English
- Type: text , Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10962/61680 , vital:28048
- Description: The role played by electronic commerce has increased in recent years and continues to increase. Due to this increase in the buying and selling of digital goods and services, revenue authorities have had to recognise that the existing taxation laws do not adequately tax the digital economy. The goal of this research was to establish how South Africa could amend its fiscal legislation in order to adequately tax the digital economy. The Organisation for Economic Co-Operation and Development (OECD) has been the leader in addressing the challenges posed by the digital economy. The thesis therefore focused on the recommendations by the OECD on how to tax the digital economy and relevant recommendations for South were adopted in this thesis, based on the work of the OECD. The main focus of these recommendations was on implementing the International VAT/GST Guidelines that were drafted by the OECD. The thesis also focused on the progress made by New Zealand with regard to taxing of the digital economy. New Zealand has a similar taxation system to South Africa so that the progress made there was relevant in the South African context. Recommendations were also made, based on the proposals by the New Zealand revenue authority that South Africa could adopt in taxing the digital economy. The main focus of these recommendations was lowering the Value-Added Tax (VAT) registration threshold for non-resident suppliers of electronic services and enacting legislation to provide for registration of an electronic marketplace for VAT purposes, instead of an individual supplier.
- Full Text:
- Authors: Shumba, Marilyn Tatenda
- Date: 2018
- Subjects: Electronic commerce Taxation Law and legislation South Africa , Value-added tax South Africa , Organisation for Economic Co-operation and Development , Taxation Law and legislation South Africa , Business enterprises, Foreign Taxation Law and legislation South Africa
- Language: English
- Type: text , Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10962/61680 , vital:28048
- Description: The role played by electronic commerce has increased in recent years and continues to increase. Due to this increase in the buying and selling of digital goods and services, revenue authorities have had to recognise that the existing taxation laws do not adequately tax the digital economy. The goal of this research was to establish how South Africa could amend its fiscal legislation in order to adequately tax the digital economy. The Organisation for Economic Co-Operation and Development (OECD) has been the leader in addressing the challenges posed by the digital economy. The thesis therefore focused on the recommendations by the OECD on how to tax the digital economy and relevant recommendations for South were adopted in this thesis, based on the work of the OECD. The main focus of these recommendations was on implementing the International VAT/GST Guidelines that were drafted by the OECD. The thesis also focused on the progress made by New Zealand with regard to taxing of the digital economy. New Zealand has a similar taxation system to South Africa so that the progress made there was relevant in the South African context. Recommendations were also made, based on the proposals by the New Zealand revenue authority that South Africa could adopt in taxing the digital economy. The main focus of these recommendations was lowering the Value-Added Tax (VAT) registration threshold for non-resident suppliers of electronic services and enacting legislation to provide for registration of an electronic marketplace for VAT purposes, instead of an individual supplier.
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The fourth industrial revolution and human capital development
- Authors: Goldschmidt, Kyle
- Date: 2018
- Subjects: Technological innovations -- Economic aspects , Human capital , Intellectual capital , Economic development , Economic development -- Effect of education on , Fourth industrial revolution
- Language: English
- Type: text , Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10962/62483 , vital:28197
- Description: The focus of the Fourth Industrial Revolution has been on its implications on Human Capital and its need to develop “21st-Century Skills" through education to ensure future labour and capital complementarity. Human Capital combined with 21st-Century Skills, it is claimed, can together generate economic growth, jobs and propel an economy into the next Industrial Revolution. However, Schwab’s (2016) concept of the Fourth Industrial Revolution, make no distinction between the Average Worker and the Knowledge Elite and their relationship to each other and successful economic growth. The different nature of these skills is absent in the literature to date. A critical analysis of literature will be used to examine Schwab’s (2016) claim of a Fourth Industrial Revolution and assess how the Average Worker and the Knowledge Elite relate to the Fourth Industrial Revolution and 21st-Century Skills. The evidence is provided on how both the Average Worker and the Knowledge Elite are key contributors to economic growth and will be important in the Fourth Industrial Revolution.
- Full Text:
- Authors: Goldschmidt, Kyle
- Date: 2018
- Subjects: Technological innovations -- Economic aspects , Human capital , Intellectual capital , Economic development , Economic development -- Effect of education on , Fourth industrial revolution
- Language: English
- Type: text , Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10962/62483 , vital:28197
- Description: The focus of the Fourth Industrial Revolution has been on its implications on Human Capital and its need to develop “21st-Century Skills" through education to ensure future labour and capital complementarity. Human Capital combined with 21st-Century Skills, it is claimed, can together generate economic growth, jobs and propel an economy into the next Industrial Revolution. However, Schwab’s (2016) concept of the Fourth Industrial Revolution, make no distinction between the Average Worker and the Knowledge Elite and their relationship to each other and successful economic growth. The different nature of these skills is absent in the literature to date. A critical analysis of literature will be used to examine Schwab’s (2016) claim of a Fourth Industrial Revolution and assess how the Average Worker and the Knowledge Elite relate to the Fourth Industrial Revolution and 21st-Century Skills. The evidence is provided on how both the Average Worker and the Knowledge Elite are key contributors to economic growth and will be important in the Fourth Industrial Revolution.
- Full Text:
The impact of the cultural and creative industries on the economic growth and development of small cities and towns - guidelines for creating a regional cultural policy
- Authors: Ndhlovu, Raymond
- Date: 2018
- Subjects: Cultural industries -- South Africa , Cultural industries -- Economic aspects -- South Africa , Cultural policy , South Africa -- Economic conditions , Economic development -- South Africa -- Eastern Cape , South Africa. Department of Arts and Culture , Standard Bank National Arts Festival
- Language: English
- Type: text , Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10962/61524 , vital:28032
- Description: The arts and cultural sector has come under even more financial strain than it previously was, as it has to compete with other sectors of the economy for the very limited public funding that is available. It is in this context that the economic impact, and the role, of the arts and cultural sector towards advancing economic growth and development, needs be examined. This thesis investigates the potential for the positive impact of the cultural and creative industries (CCIs) on growth and development of small cities and towns. Furthermore, it also provides guidelines for the development of regional cultural policy in small cities and towns. The CCIs have also been touted as a catalyst for economic growth and economic development, hence the global rise in their interest. For example, the CCIs have been used to redevelop and revive urban areas that have been rundown. CCIs, however, tend to develop in clusters, and additionally, they cluster around large cities. However, the lack of reliance of some CCIs on long supply chains or high-technology inputs may make them suitable candidates for investment in small cities and towns. Additionally, the link that small cities and towns have with rural and isolated areas makes them potential engines for driving growth, development, as well as employment creation for these areas, given their decline as a result of the transition from the traditional agricultural economy, to the knowledge economy. As CCIs have the propensity to drive government’s macroeconomic objectives such as efficiency, equity, economic growth and job creation, it is necessary to develop cultural policy that regards this. The tendency of CCIs to cluster and develop around large cities inevitably means that very little research into cultural policy directed towards regions without large cities and towns has been done. By the same token, very little research has also been conducted on how to craft cultural policy for such areas. In order then, for cultural policy for regions without large cities and towns to be developed, it is necessary to investigate, and provide, guidelines on, how to develop cultural policy for such regions. As a case study, the Sarah Baartman District Municipality (SBDM) in the Eastern Cape was chosen. The SBDM has no large cities and towns, but the District Municipality has identified the CCIs as a potential growth sector, and is in the process of developing a regional cultural policy. The area also includes Grahamstown, which not only hosts the National Arts Festival, which is the largest arts event of its type in Africa, but is also piloting the “Creative City” project in South Africa. An audit and mapping study was conducted on the CCIs in the SBDM; this was based on a national mapping study commissioned by the Department of Arts and Culture. Further internet searches, as well as consultations with the provincial and regional Department of Arts of Culture, coupled with snowball sampling, also aided in the identification of CCIs, and consequently, the “creative hotspots” within the SBDM. Two random samples of stakeholders were chosen; the CCI owners and practitioners, as well as key stakeholders such as government officials, and interviews conducted with both groups, in order to get a first-hand perspective on the operations, activities, challenges, and opportunities that are faced by the CCIs. The study found that there were at least 441 CCIs in the SBDM, with two local municipalities (Dr. Beyers Naude and Makana) hosting the largest share of these (145 and 113 CCIs in each local municipality respectively), which indicates some support for the ‘clustering’ theory. It was also found that the local municipalities that had the largest number of CCIs also experienced better socio-economic welfare. Furthermore, based on the UNESCO Framework for Cultural Statistics (FCS) domains, the Visual Arts and Crafts; Information, Books and Press; and, Cultural Heritage domains were the largest domains represented in the SBDM. It was concluded that cultural policy that is developed, ought to take advantage of, and build on, these existing clusters, as well as the domains that are most prevalent in the region. To demonstrate the impact of cultural festivals on growth and development, a socio-economic impact study was undertaken at the 2016 National Arts Festival (NAF) in Grahamstown. Face to interviews, as well as self-completion questionnaires were used, with respondents at different venues, attending a variety of shows, and across a range of demographics, being interviewed, in order to get a representative sample of Festival attendees. It was found that the economic impact of the 2016 NAF on the city of Grahamstown was R94.4 million. Over and above the economic value of the NAF, it was also found that there were nonmarket benefits (social and intrinsic values) of the NAF, that included audience development, education of the arts and culture, social cohesion, and community development. The inability to directly track and measure social and intrinsic values proved to be a challenge. The study concluded that in order for successful cultural policy to be developed in regions without large cities and towns, it is first necessary to carry out a study to identify what resources are present, and where they are. Locating resources enables cluster identification - as clusters encourage comparative and competitive advantage, it is worthwhile to invest in areas where there are clusters. Therefore, in the allocation of scarce public funds, cultural policy needs to guide investment in to areas where established clusters indicate existing comparative advantage. In terms of equity and transformation, it is also necessary to evaluate labour markets and ownership patterns when developing cultural policy. Beyond the analysis of physical and human resources, the study also found that a crucial step towards developing successful cultural policy is identification of opportunities and challenges faced by the practitioners themselves; the policy ought to capitalise on the opportunities, whilst attempting to correct the challenges faced. Also of importance is aligning the proposed policy and its objectives with regional, provincial and national aims and objectives. Finally, it is important to include a monitoring and evaluation tool that will evaluate the performance of the policy against its stated aims and objectives.
- Full Text:
- Authors: Ndhlovu, Raymond
- Date: 2018
- Subjects: Cultural industries -- South Africa , Cultural industries -- Economic aspects -- South Africa , Cultural policy , South Africa -- Economic conditions , Economic development -- South Africa -- Eastern Cape , South Africa. Department of Arts and Culture , Standard Bank National Arts Festival
- Language: English
- Type: text , Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10962/61524 , vital:28032
- Description: The arts and cultural sector has come under even more financial strain than it previously was, as it has to compete with other sectors of the economy for the very limited public funding that is available. It is in this context that the economic impact, and the role, of the arts and cultural sector towards advancing economic growth and development, needs be examined. This thesis investigates the potential for the positive impact of the cultural and creative industries (CCIs) on growth and development of small cities and towns. Furthermore, it also provides guidelines for the development of regional cultural policy in small cities and towns. The CCIs have also been touted as a catalyst for economic growth and economic development, hence the global rise in their interest. For example, the CCIs have been used to redevelop and revive urban areas that have been rundown. CCIs, however, tend to develop in clusters, and additionally, they cluster around large cities. However, the lack of reliance of some CCIs on long supply chains or high-technology inputs may make them suitable candidates for investment in small cities and towns. Additionally, the link that small cities and towns have with rural and isolated areas makes them potential engines for driving growth, development, as well as employment creation for these areas, given their decline as a result of the transition from the traditional agricultural economy, to the knowledge economy. As CCIs have the propensity to drive government’s macroeconomic objectives such as efficiency, equity, economic growth and job creation, it is necessary to develop cultural policy that regards this. The tendency of CCIs to cluster and develop around large cities inevitably means that very little research into cultural policy directed towards regions without large cities and towns has been done. By the same token, very little research has also been conducted on how to craft cultural policy for such areas. In order then, for cultural policy for regions without large cities and towns to be developed, it is necessary to investigate, and provide, guidelines on, how to develop cultural policy for such regions. As a case study, the Sarah Baartman District Municipality (SBDM) in the Eastern Cape was chosen. The SBDM has no large cities and towns, but the District Municipality has identified the CCIs as a potential growth sector, and is in the process of developing a regional cultural policy. The area also includes Grahamstown, which not only hosts the National Arts Festival, which is the largest arts event of its type in Africa, but is also piloting the “Creative City” project in South Africa. An audit and mapping study was conducted on the CCIs in the SBDM; this was based on a national mapping study commissioned by the Department of Arts and Culture. Further internet searches, as well as consultations with the provincial and regional Department of Arts of Culture, coupled with snowball sampling, also aided in the identification of CCIs, and consequently, the “creative hotspots” within the SBDM. Two random samples of stakeholders were chosen; the CCI owners and practitioners, as well as key stakeholders such as government officials, and interviews conducted with both groups, in order to get a first-hand perspective on the operations, activities, challenges, and opportunities that are faced by the CCIs. The study found that there were at least 441 CCIs in the SBDM, with two local municipalities (Dr. Beyers Naude and Makana) hosting the largest share of these (145 and 113 CCIs in each local municipality respectively), which indicates some support for the ‘clustering’ theory. It was also found that the local municipalities that had the largest number of CCIs also experienced better socio-economic welfare. Furthermore, based on the UNESCO Framework for Cultural Statistics (FCS) domains, the Visual Arts and Crafts; Information, Books and Press; and, Cultural Heritage domains were the largest domains represented in the SBDM. It was concluded that cultural policy that is developed, ought to take advantage of, and build on, these existing clusters, as well as the domains that are most prevalent in the region. To demonstrate the impact of cultural festivals on growth and development, a socio-economic impact study was undertaken at the 2016 National Arts Festival (NAF) in Grahamstown. Face to interviews, as well as self-completion questionnaires were used, with respondents at different venues, attending a variety of shows, and across a range of demographics, being interviewed, in order to get a representative sample of Festival attendees. It was found that the economic impact of the 2016 NAF on the city of Grahamstown was R94.4 million. Over and above the economic value of the NAF, it was also found that there were nonmarket benefits (social and intrinsic values) of the NAF, that included audience development, education of the arts and culture, social cohesion, and community development. The inability to directly track and measure social and intrinsic values proved to be a challenge. The study concluded that in order for successful cultural policy to be developed in regions without large cities and towns, it is first necessary to carry out a study to identify what resources are present, and where they are. Locating resources enables cluster identification - as clusters encourage comparative and competitive advantage, it is worthwhile to invest in areas where there are clusters. Therefore, in the allocation of scarce public funds, cultural policy needs to guide investment in to areas where established clusters indicate existing comparative advantage. In terms of equity and transformation, it is also necessary to evaluate labour markets and ownership patterns when developing cultural policy. Beyond the analysis of physical and human resources, the study also found that a crucial step towards developing successful cultural policy is identification of opportunities and challenges faced by the practitioners themselves; the policy ought to capitalise on the opportunities, whilst attempting to correct the challenges faced. Also of importance is aligning the proposed policy and its objectives with regional, provincial and national aims and objectives. Finally, it is important to include a monitoring and evaluation tool that will evaluate the performance of the policy against its stated aims and objectives.
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The tax consequences of income and expenses arising from illegal activities
- Authors: Singh, Shalona
- Date: 2018
- Subjects: South Africa. Income Tax Act, 1962 , Income tax South Africa , Tax evasion South Africa , Taxation Law and legislation South Africa Criminal provisions , Crime Economic aspects South Africa
- Language: English
- Type: text , Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10962/59456 , vital:27609
- Description: Income tax in South Africa is levied in terms of the Income Tax Act, 58 of 1962 (the South African Income Tax Act) on taxable income, which by definition, is arrived at by deducting from ''gross income" receipts and accruals that are exempt from tax as well as deductions and allowances provided for in the Act. The South African Income Tax Act provides no guidance with regard to the taxation of income and expenditure from illegal activities. In this mini thesis, case law and legislation is reviewed in an attempt to provide clarity on the tax consequences of income and expenses arising from illegal activities. An overview is provided of the taxation of income and expenditure in respect of illegal activities in the United States of America, Australia and New Zealand. Similarities are found between the American, Australian, New Zealand and South African tax regimes in relation to the taxation of income earned from illegal activities, but there appears to be more certainty in America, Australia and New Zealand with regard to the deduction of expenses arising from illegal activities. In South Africa, taxpayers earning income from ongoing illegal activities will, in principle, comply with the definition of “trade” as defined in section 1 of the South African Income Tax Act. However, this is contrary to the view of the South African Revenue Service that illegal activities do not meet the definition of “trade”, a viewpoint that may not hold if challenged in court. Recommendations are made for the amendment of the South African Income Tax Act to specifically provide for the inclusion in “gross income” of income from illegal activities and to prohibit the deduction of expenditure arising from illegal activities.
- Full Text:
- Authors: Singh, Shalona
- Date: 2018
- Subjects: South Africa. Income Tax Act, 1962 , Income tax South Africa , Tax evasion South Africa , Taxation Law and legislation South Africa Criminal provisions , Crime Economic aspects South Africa
- Language: English
- Type: text , Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10962/59456 , vital:27609
- Description: Income tax in South Africa is levied in terms of the Income Tax Act, 58 of 1962 (the South African Income Tax Act) on taxable income, which by definition, is arrived at by deducting from ''gross income" receipts and accruals that are exempt from tax as well as deductions and allowances provided for in the Act. The South African Income Tax Act provides no guidance with regard to the taxation of income and expenditure from illegal activities. In this mini thesis, case law and legislation is reviewed in an attempt to provide clarity on the tax consequences of income and expenses arising from illegal activities. An overview is provided of the taxation of income and expenditure in respect of illegal activities in the United States of America, Australia and New Zealand. Similarities are found between the American, Australian, New Zealand and South African tax regimes in relation to the taxation of income earned from illegal activities, but there appears to be more certainty in America, Australia and New Zealand with regard to the deduction of expenses arising from illegal activities. In South Africa, taxpayers earning income from ongoing illegal activities will, in principle, comply with the definition of “trade” as defined in section 1 of the South African Income Tax Act. However, this is contrary to the view of the South African Revenue Service that illegal activities do not meet the definition of “trade”, a viewpoint that may not hold if challenged in court. Recommendations are made for the amendment of the South African Income Tax Act to specifically provide for the inclusion in “gross income” of income from illegal activities and to prohibit the deduction of expenditure arising from illegal activities.
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Towards a threat assessment framework for consumer health wearables
- Authors: Mnjama, Javan Joshua
- Date: 2018
- Subjects: Activity trackers (Wearable technology) , Computer networks -- Security measures , Data protection , Information storage and retrieval systems -- Security systems , Computer security -- Software , Consumer Health Wearable Threat Assessment Framework , Design Science Research
- Language: English
- Type: text , Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10962/62649 , vital:28225
- Description: The collection of health data such as physical activity, consumption and physiological data through the use of consumer health wearables via fitness trackers are very beneficial for the promotion of physical wellness. However, consumer health wearables and their associated applications are known to have privacy and security concerns that can potentially make the collected personal health data vulnerable to hackers. These concerns are attributed to security theoretical frameworks not sufficiently addressing the entirety of privacy and security concerns relating to the diverse technological ecosystem of consumer health wearables. The objective of this research was therefore to develop a threat assessment framework that can be used to guide the detection of vulnerabilities which affect consumer health wearables and their associated applications. To meet this objective, the Design Science Research methodology was used to develop the desired artefact (Consumer Health Wearable Threat Assessment Framework). The framework is comprised of fourteen vulnerabilities classified according to Authentication, Authorization, Availability, Confidentiality, Non-Repudiation and Integrity. Through developing the artefact, the threat assessment framework was demonstrated on two fitness trackers and their associated applications. It was discovered, that the framework was able to identify how these vulnerabilities affected, these two test cases based on the classification categories of the framework. The framework was also evaluated by four security experts who assessed the quality, utility and efficacy of the framework. Experts, supported the use of the framework as a relevant and comprehensive framework to guide the detection of vulnerabilities towards consumer health wearables and their associated applications. The implication of this research study is that the framework can be used by developers to better identify the vulnerabilities of consumer health wearables and their associated applications. This will assist in creating a more securer environment for the storage and use of health data by consumer health wearables.
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- Authors: Mnjama, Javan Joshua
- Date: 2018
- Subjects: Activity trackers (Wearable technology) , Computer networks -- Security measures , Data protection , Information storage and retrieval systems -- Security systems , Computer security -- Software , Consumer Health Wearable Threat Assessment Framework , Design Science Research
- Language: English
- Type: text , Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10962/62649 , vital:28225
- Description: The collection of health data such as physical activity, consumption and physiological data through the use of consumer health wearables via fitness trackers are very beneficial for the promotion of physical wellness. However, consumer health wearables and their associated applications are known to have privacy and security concerns that can potentially make the collected personal health data vulnerable to hackers. These concerns are attributed to security theoretical frameworks not sufficiently addressing the entirety of privacy and security concerns relating to the diverse technological ecosystem of consumer health wearables. The objective of this research was therefore to develop a threat assessment framework that can be used to guide the detection of vulnerabilities which affect consumer health wearables and their associated applications. To meet this objective, the Design Science Research methodology was used to develop the desired artefact (Consumer Health Wearable Threat Assessment Framework). The framework is comprised of fourteen vulnerabilities classified according to Authentication, Authorization, Availability, Confidentiality, Non-Repudiation and Integrity. Through developing the artefact, the threat assessment framework was demonstrated on two fitness trackers and their associated applications. It was discovered, that the framework was able to identify how these vulnerabilities affected, these two test cases based on the classification categories of the framework. The framework was also evaluated by four security experts who assessed the quality, utility and efficacy of the framework. Experts, supported the use of the framework as a relevant and comprehensive framework to guide the detection of vulnerabilities towards consumer health wearables and their associated applications. The implication of this research study is that the framework can be used by developers to better identify the vulnerabilities of consumer health wearables and their associated applications. This will assist in creating a more securer environment for the storage and use of health data by consumer health wearables.
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Women’s perceptions of successful financial retirement planning
- Authors: Durrheim, Meghan
- Date: 2018
- Subjects: Women -- Retirement -- South Africa -- Makhanda , Retirement -- Planning , Retirement income -- Planning , Women -- Finance, Personal , Retired women -- Finance, Personal , Regression analysis
- Language: English
- Type: text , Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10962/60339 , vital:27771
- Description: Financial retirement planning is an important component in ensuring that individuals accumulate sufficient wealth for retirement. Previous research suggests that many individuals are unable to accumulate sufficient wealth for retirement with the problem being particularly acute for women as they tend to spend less time planning financially for retirement when compared to men. Consequently, many women are unable to accumulate sufficient wealth for retirement. Despite the growing need to investigate women’s financial retirement planning, much research tends to focus on financial retirement planning for males. Consequently, there is a growing need to investigate women’s perceptions of successful financial retirement planning, particularly in Grahamstown. After conducting an in-depth literature study and using the study done by Doa (2014), six independent variables were identified: values, time horizon, attitudes, working life-cycle, risk tolerance and financial literacy. These independent variables were identified as factors which could potentially influence women’s perceptions of successful financial retirement planning. A set of hypothesis were formulated to test the relationship between these independent variables and the dependent variable (women’s perceptions of successful financial retirement planning). The study comprised of 101 participants. A principle component analysis was performed to determine the key variables, with the relevant independent factors being renamed: cultural values, personal values, affective attitudes, time horizon knowledge, time horizon consideration, risk tolerance, financial literacy. An ordinal logit regression analysis was then conducted on these renamed variables to determine the influence of these key independent variables on the dependent variable. After controlling for a set of demographic variables the results of the ordinal logit regression analysis revealed that only affective attitudes, time horizon knowledge, and personal values had a significant relationship with women’s perceptions of successful financial retirement planning. Cronbach’s alpha revealed that the measuring instrument of the significant extracted factors was reliable, while Pearson product moment was used to determine correlations between extracted key independent variables and the dependent variable. The investigation into women’s perceptions of successful financial retirement planning enabled insightful information to be gathered which adds to the body of knowledge. In addition, recommendations were formulated in an attempt to assist women when making financial retirement decisions.
- Full Text:
- Authors: Durrheim, Meghan
- Date: 2018
- Subjects: Women -- Retirement -- South Africa -- Makhanda , Retirement -- Planning , Retirement income -- Planning , Women -- Finance, Personal , Retired women -- Finance, Personal , Regression analysis
- Language: English
- Type: text , Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10962/60339 , vital:27771
- Description: Financial retirement planning is an important component in ensuring that individuals accumulate sufficient wealth for retirement. Previous research suggests that many individuals are unable to accumulate sufficient wealth for retirement with the problem being particularly acute for women as they tend to spend less time planning financially for retirement when compared to men. Consequently, many women are unable to accumulate sufficient wealth for retirement. Despite the growing need to investigate women’s financial retirement planning, much research tends to focus on financial retirement planning for males. Consequently, there is a growing need to investigate women’s perceptions of successful financial retirement planning, particularly in Grahamstown. After conducting an in-depth literature study and using the study done by Doa (2014), six independent variables were identified: values, time horizon, attitudes, working life-cycle, risk tolerance and financial literacy. These independent variables were identified as factors which could potentially influence women’s perceptions of successful financial retirement planning. A set of hypothesis were formulated to test the relationship between these independent variables and the dependent variable (women’s perceptions of successful financial retirement planning). The study comprised of 101 participants. A principle component analysis was performed to determine the key variables, with the relevant independent factors being renamed: cultural values, personal values, affective attitudes, time horizon knowledge, time horizon consideration, risk tolerance, financial literacy. An ordinal logit regression analysis was then conducted on these renamed variables to determine the influence of these key independent variables on the dependent variable. After controlling for a set of demographic variables the results of the ordinal logit regression analysis revealed that only affective attitudes, time horizon knowledge, and personal values had a significant relationship with women’s perceptions of successful financial retirement planning. Cronbach’s alpha revealed that the measuring instrument of the significant extracted factors was reliable, while Pearson product moment was used to determine correlations between extracted key independent variables and the dependent variable. The investigation into women’s perceptions of successful financial retirement planning enabled insightful information to be gathered which adds to the body of knowledge. In addition, recommendations were formulated in an attempt to assist women when making financial retirement decisions.
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A comparative analysis of the new behaviours and terms introduced in the understatement penalty table in section 223 of the Tax Administration Act
- Authors: Doolan, Kim
- Date: 2017
- Subjects: South Africa. Tax Administration Act, 2011 , Taxation -- South Africa , Taxation -- Law and legislation -- South Africa , Tax administration and procedure -- Law and legislation -- South Africa , Tax penalties -- Law and legislation -- South Africa , Taxpayer compliance -- South Africa
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10962/5802 , vital:20977
- Description: The Tax Administration Act became effective on the 1 October 2012 and in Chapter 16 introduced the understatement penalty regime which replaced section 76 of the Income Tax Act. The understatement penalty is calculated by applying a percentage in terms of the table included in section 223 of the Tax Administration Act to the shortfall in tax giving rise to the imposition of the penalty. There are five behaviours reflected in the understatement penalty table in section 223, namely, “substantial understatement”, “reasonable care not taken in completing return”, “no reasonable grounds for tax position taken”, “gross negligence” and “intentional tax evasion”. “Substantial understatement” is the only behaviour defined in the Tax Administration Act. Section 222(1) of the Tax Administration Act requires SARS to impose the penalty reflected in the table in the event of an “understatement”, unless the “understatement” results from a “bona fide inadvertent error”. The term “bona fide inadvertent error” is not defined in the Tax Administration Act; neither is the term “obstructive”. The Memorandum on the Objects of the Tax Administration Laws Amendment Bill confirmed that guidance would be developed in this regard for the use of taxpayers and SARS officials. This guidance has not yet been released. Media reports express the view that the lack of definition of the behaviours is problematic for both SARS and taxpayers as the table is new and there is still room for interpretation and understanding of the meaning of each of the behaviours. The primary goal of this study was is to obtain a better understanding of the meaning of the new behaviours and terms introduced in the understatement penalty table. In addressing this main goal, the penalty tables and behaviours in legislation in New Zealand were compared to South Africa’s understatement penalty. The similarities and differences between the understatement penalty imposed in terms of Chapter 16 of the Tax Administration Act and the additional tax previously imposed in terms of section 76 of the Income Tax Act were also discussed to determine whether this would be of assistance in enabling a better understanding of the meaning of the behaviours and terms in section 223. Guidance on the interpretation of the various behaviours and terms was developed and a definition was proposed for the meaning of “bona fide inadvertent error” and “obstructive” to assist in the objective and consistent application of the understatement penalty table in relation to each shortfall identified. The proposed definition for “bona fide inadvertent error” is as follows: “An honest mistake made or simple oversight, which the taxpayer was not aware of, despite taking reasonable care and displaying a prudent attitude while making a genuine attempt to comply with all applicable tax obligations.” The definition for “obstructive” is proposed as: “Deliberately interfering with, causing difficulties (impeding) or delays in, or preventing the progress of a SARS audit or review.”
- Full Text:
- Authors: Doolan, Kim
- Date: 2017
- Subjects: South Africa. Tax Administration Act, 2011 , Taxation -- South Africa , Taxation -- Law and legislation -- South Africa , Tax administration and procedure -- Law and legislation -- South Africa , Tax penalties -- Law and legislation -- South Africa , Taxpayer compliance -- South Africa
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10962/5802 , vital:20977
- Description: The Tax Administration Act became effective on the 1 October 2012 and in Chapter 16 introduced the understatement penalty regime which replaced section 76 of the Income Tax Act. The understatement penalty is calculated by applying a percentage in terms of the table included in section 223 of the Tax Administration Act to the shortfall in tax giving rise to the imposition of the penalty. There are five behaviours reflected in the understatement penalty table in section 223, namely, “substantial understatement”, “reasonable care not taken in completing return”, “no reasonable grounds for tax position taken”, “gross negligence” and “intentional tax evasion”. “Substantial understatement” is the only behaviour defined in the Tax Administration Act. Section 222(1) of the Tax Administration Act requires SARS to impose the penalty reflected in the table in the event of an “understatement”, unless the “understatement” results from a “bona fide inadvertent error”. The term “bona fide inadvertent error” is not defined in the Tax Administration Act; neither is the term “obstructive”. The Memorandum on the Objects of the Tax Administration Laws Amendment Bill confirmed that guidance would be developed in this regard for the use of taxpayers and SARS officials. This guidance has not yet been released. Media reports express the view that the lack of definition of the behaviours is problematic for both SARS and taxpayers as the table is new and there is still room for interpretation and understanding of the meaning of each of the behaviours. The primary goal of this study was is to obtain a better understanding of the meaning of the new behaviours and terms introduced in the understatement penalty table. In addressing this main goal, the penalty tables and behaviours in legislation in New Zealand were compared to South Africa’s understatement penalty. The similarities and differences between the understatement penalty imposed in terms of Chapter 16 of the Tax Administration Act and the additional tax previously imposed in terms of section 76 of the Income Tax Act were also discussed to determine whether this would be of assistance in enabling a better understanding of the meaning of the behaviours and terms in section 223. Guidance on the interpretation of the various behaviours and terms was developed and a definition was proposed for the meaning of “bona fide inadvertent error” and “obstructive” to assist in the objective and consistent application of the understatement penalty table in relation to each shortfall identified. The proposed definition for “bona fide inadvertent error” is as follows: “An honest mistake made or simple oversight, which the taxpayer was not aware of, despite taking reasonable care and displaying a prudent attitude while making a genuine attempt to comply with all applicable tax obligations.” The definition for “obstructive” is proposed as: “Deliberately interfering with, causing difficulties (impeding) or delays in, or preventing the progress of a SARS audit or review.”
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A water footprint assessment of dryland pasture based dairy enterprise in the Eastern Cape: a case study
- Authors: Jenje, Paige
- Date: 2017
- Subjects: Water supply, Agricultural -- South Africa , Water supply, Agricultural -- Government policy -- South Africa , Water consumption -- Measurement -- South Africa , Water demand management -- South Africa , Water-supply -- Accounting -- South Africa , Cattle -- Water requirements -- South Africa -- Cast studies
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10962/5362 , vital:20917
- Description: Water scarcity continues to pose a threat to South Africa, with severe water scarcity predicted within the next fifty years. As a result, national interest has been sparked over the development of market based water resource allocation strategies to alleviate pressures on South Africa's freshwater resources, and ensure compliance with the National Water Act. Agriculture is the largest water user internationally and within South Africa, highlighting the importance of improving the water use efficiency within the industry. This study performed a full water footprint assessment (WFA) of a dryland pasture based dairy enterprise in the Eastern Cape. Following the guidelines of the WFA, this study calculated the blue, green and grey water footprints of dryland pasture based dairy production from crop- to-farm gate by assessing the water footprints of pasture production, bought in feed and concentrates, drinking water and servicing water processes over a period of five years. Following the accounting the of the water footprint, economic and environmental sustainability indicators were used along with the incorporation of the Water Risk Filter tool. This revealed that the case study farm was operating efficiently with the enterprise's highest water related risk being governmental regulation. Water footprint accounting results highlighted that green water was largest contributor to the overall water footprint of over 80%, and grey water contributed the least to the water footprint of dryland pasture based dairy production. Economic productivity results indicated that milk production is highly correlated with annual rainfall due to the breeding strategy undertaken by the farm. Results also indicated little correlation between the monthly water footprint and milk production, with the majority of the enterprise's milk production occurring in the last quarter regardless of the water footprint. The study demonstrated the relationship between the water footprint and economic land and water productivity, along with the value of milk to costs ratio which indicated that approximately R1.00 worth of costs generates between R1.80 and R2.06 value of milk. The sustainability indicators suggested that the farm's management of its effluent dam requires attention to meet the Department of Water and Sanitations effluent waste quality guidelines. The overall analysis of the water footprint suggested that the highest water related risk to dryland dairy production was regulatory risk. This risk suggests that the government cannot be relied upon for the management of freshwater resources within the study area, leaving the onus on the individual dairy farmers. As such, farmers should utilise the water footprint to formulate water stewardship programmes which have the potential to influence the regulation and protection of freshwater resources.
- Full Text:
- Authors: Jenje, Paige
- Date: 2017
- Subjects: Water supply, Agricultural -- South Africa , Water supply, Agricultural -- Government policy -- South Africa , Water consumption -- Measurement -- South Africa , Water demand management -- South Africa , Water-supply -- Accounting -- South Africa , Cattle -- Water requirements -- South Africa -- Cast studies
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10962/5362 , vital:20917
- Description: Water scarcity continues to pose a threat to South Africa, with severe water scarcity predicted within the next fifty years. As a result, national interest has been sparked over the development of market based water resource allocation strategies to alleviate pressures on South Africa's freshwater resources, and ensure compliance with the National Water Act. Agriculture is the largest water user internationally and within South Africa, highlighting the importance of improving the water use efficiency within the industry. This study performed a full water footprint assessment (WFA) of a dryland pasture based dairy enterprise in the Eastern Cape. Following the guidelines of the WFA, this study calculated the blue, green and grey water footprints of dryland pasture based dairy production from crop- to-farm gate by assessing the water footprints of pasture production, bought in feed and concentrates, drinking water and servicing water processes over a period of five years. Following the accounting the of the water footprint, economic and environmental sustainability indicators were used along with the incorporation of the Water Risk Filter tool. This revealed that the case study farm was operating efficiently with the enterprise's highest water related risk being governmental regulation. Water footprint accounting results highlighted that green water was largest contributor to the overall water footprint of over 80%, and grey water contributed the least to the water footprint of dryland pasture based dairy production. Economic productivity results indicated that milk production is highly correlated with annual rainfall due to the breeding strategy undertaken by the farm. Results also indicated little correlation between the monthly water footprint and milk production, with the majority of the enterprise's milk production occurring in the last quarter regardless of the water footprint. The study demonstrated the relationship between the water footprint and economic land and water productivity, along with the value of milk to costs ratio which indicated that approximately R1.00 worth of costs generates between R1.80 and R2.06 value of milk. The sustainability indicators suggested that the farm's management of its effluent dam requires attention to meet the Department of Water and Sanitations effluent waste quality guidelines. The overall analysis of the water footprint suggested that the highest water related risk to dryland dairy production was regulatory risk. This risk suggests that the government cannot be relied upon for the management of freshwater resources within the study area, leaving the onus on the individual dairy farmers. As such, farmers should utilise the water footprint to formulate water stewardship programmes which have the potential to influence the regulation and protection of freshwater resources.
- Full Text:
An analysis of the impact of financialization on commodity markets
- Authors: Ndawona, Takudzwa Maitaishe
- Date: 2017
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10962/7113 , vital:21218
- Description: An unprecedented increase in real commodity prices from 2002-2011 fuelled an intense debate as to the causes of the steep rise in prices and its possible implications for producers and consumers. On the one hand, the prolonged and dramatic rise in almost all commodity prices is attributed to growing demand from emerging market economies, supply shocks such as adverse weather conditions, export bans as well as other macroeconomic factors. Collectively these are known as the fundamental (demand and supply) factors. On the other hand, there is a growing body of evidence that suggests these fundamental factors alone are not sufficient enough to explain recent commodity price developments. It is noted that alongside changes in the fundamental factors, there was a major shift in trading activities on commodity derivative markets related to the increasing presence of financial investors, institutional investors and hedge funds. This had important effects, it is argued, on the microstructure of these markets and on price dynamics in a process termed “fmancialization”. Most of the empirical literature covers the period of rising commodity prices from 20022011. This study seeks to add to the existing literature by examining, in addition, the impact of financialization when commodity prices were falling from 2011-2015. Whereas the literature focuses mainly on the rise of agricultural commodity prices, the focus of this study is on metals, oil and bulk commodities (coal and iron ore). Two techniques are employed, namely the calculation of rolling correlations for futures and spot returns. Granger causality tests are then performed to examine the relationships between futures and spot prices. Rolling return correlations are calculated for i) different exchange- traded commodities and ii) exchange-traded commodities and bulk commodities not traded on exchanges. This is done to establish whether the increased correlations between different commodities found in the literature still hold now that commodity prices across all categories are falling. Granger causality tests are used in order to establish the link between the futures prices and spot prices both during the upswing period (2002-2011) and downswing period (2011-2015). It is found that rapidly growing indexed-based investment in commodity markets (financialization) during the upswing period is concurrent with increasingly correlated returns on the prices of unrelated commodities in both the futures and spot markets. These correlations decline during the period of falling commodity prices (2011-2015). This was a period in which the total amount of commodity assets under management fell sharply. This supports the a priori expectation that if the increased correlations of previously seemingly correlated and unrelated commodities during the upswing had been driven by financialization, the correlation would decline in the downturn. Granger causality results reveal statistically significant evidence of futures prices (returns) driving spot prices (returns) during the financialization period. However, post-financialization there is a shift to more bidirectional relationships. The study therefore concludes that, in addition to changing fundamental and macroeconomic factors, the financialization of commodity markets further drove the excessive and volatile price levels in commodity markets from 2002 to 2011.
- Full Text:
- Authors: Ndawona, Takudzwa Maitaishe
- Date: 2017
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10962/7113 , vital:21218
- Description: An unprecedented increase in real commodity prices from 2002-2011 fuelled an intense debate as to the causes of the steep rise in prices and its possible implications for producers and consumers. On the one hand, the prolonged and dramatic rise in almost all commodity prices is attributed to growing demand from emerging market economies, supply shocks such as adverse weather conditions, export bans as well as other macroeconomic factors. Collectively these are known as the fundamental (demand and supply) factors. On the other hand, there is a growing body of evidence that suggests these fundamental factors alone are not sufficient enough to explain recent commodity price developments. It is noted that alongside changes in the fundamental factors, there was a major shift in trading activities on commodity derivative markets related to the increasing presence of financial investors, institutional investors and hedge funds. This had important effects, it is argued, on the microstructure of these markets and on price dynamics in a process termed “fmancialization”. Most of the empirical literature covers the period of rising commodity prices from 20022011. This study seeks to add to the existing literature by examining, in addition, the impact of financialization when commodity prices were falling from 2011-2015. Whereas the literature focuses mainly on the rise of agricultural commodity prices, the focus of this study is on metals, oil and bulk commodities (coal and iron ore). Two techniques are employed, namely the calculation of rolling correlations for futures and spot returns. Granger causality tests are then performed to examine the relationships between futures and spot prices. Rolling return correlations are calculated for i) different exchange- traded commodities and ii) exchange-traded commodities and bulk commodities not traded on exchanges. This is done to establish whether the increased correlations between different commodities found in the literature still hold now that commodity prices across all categories are falling. Granger causality tests are used in order to establish the link between the futures prices and spot prices both during the upswing period (2002-2011) and downswing period (2011-2015). It is found that rapidly growing indexed-based investment in commodity markets (financialization) during the upswing period is concurrent with increasingly correlated returns on the prices of unrelated commodities in both the futures and spot markets. These correlations decline during the period of falling commodity prices (2011-2015). This was a period in which the total amount of commodity assets under management fell sharply. This supports the a priori expectation that if the increased correlations of previously seemingly correlated and unrelated commodities during the upswing had been driven by financialization, the correlation would decline in the downturn. Granger causality results reveal statistically significant evidence of futures prices (returns) driving spot prices (returns) during the financialization period. However, post-financialization there is a shift to more bidirectional relationships. The study therefore concludes that, in addition to changing fundamental and macroeconomic factors, the financialization of commodity markets further drove the excessive and volatile price levels in commodity markets from 2002 to 2011.
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An analysis on role of judges in interpreting tax legislation
- Authors: Chanhuwa, Mildred Kudzanai
- Date: 2017
- Subjects: Taxation -- Law and legislation -- South Africa , Law -- South Africa , Judicial discretion -- South Africa , Judicial opinion -- South Africa , Judges -- Attitudes -- South Africa , South Africa. Constitution of the Republic of South Africa, 1996
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10962/4289 , vital:20644
- Description: This thesis focusses on the role of judges as interpreters of tax legislation. It examines the role of judges by analysing how the perceptions of judges can impact on how they interpret legislation. It also analyses various other factors that play a role when judges interpret legislation, in an effort to answer the question to what extent do philosophical theories and interpretative approaches explain the role of judges as interpreters? Jurisprudential theories such as the natural law theory, positivist theories, and American realist theories are used to analyse how judges interpret and how theorists think judges should play their interpretational role. It is noted that in pre-constitutional South Africa the courts followed a positivist paradigm; as a result, the judges used a strict literal approach to interpretation. The new Constitution brought a change in the jurisprudential paradigm accepted in South Africa and has transformed how judges perceive and carry out their role as interpreters of legislation. Judges have now adopted the purposive value-laden approach as authoritative. As custodians of the Constitution, judges should interpret provisions against the values imposed by it. The purposive value-laden interpretational approach allows judges to take into account more considerations and to weigh a provision against the constitutional values. Other issues discussed pertain to how institutional guidelines such as the doctrine of precedent and separation of powers, to a lesser extent, play a role in how judges interpret the law. It is demonstrated that the doctrine of precedent does not limit the role of judges but rather contributes to maintaining certainty, predictability and coherence in the legal system. It is also noted that judicial discretion is the mechanism by which judges use extra-legal factors such as public policy and moral considerations to assist in interpreting legislation.
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- Authors: Chanhuwa, Mildred Kudzanai
- Date: 2017
- Subjects: Taxation -- Law and legislation -- South Africa , Law -- South Africa , Judicial discretion -- South Africa , Judicial opinion -- South Africa , Judges -- Attitudes -- South Africa , South Africa. Constitution of the Republic of South Africa, 1996
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10962/4289 , vital:20644
- Description: This thesis focusses on the role of judges as interpreters of tax legislation. It examines the role of judges by analysing how the perceptions of judges can impact on how they interpret legislation. It also analyses various other factors that play a role when judges interpret legislation, in an effort to answer the question to what extent do philosophical theories and interpretative approaches explain the role of judges as interpreters? Jurisprudential theories such as the natural law theory, positivist theories, and American realist theories are used to analyse how judges interpret and how theorists think judges should play their interpretational role. It is noted that in pre-constitutional South Africa the courts followed a positivist paradigm; as a result, the judges used a strict literal approach to interpretation. The new Constitution brought a change in the jurisprudential paradigm accepted in South Africa and has transformed how judges perceive and carry out their role as interpreters of legislation. Judges have now adopted the purposive value-laden approach as authoritative. As custodians of the Constitution, judges should interpret provisions against the values imposed by it. The purposive value-laden interpretational approach allows judges to take into account more considerations and to weigh a provision against the constitutional values. Other issues discussed pertain to how institutional guidelines such as the doctrine of precedent and separation of powers, to a lesser extent, play a role in how judges interpret the law. It is demonstrated that the doctrine of precedent does not limit the role of judges but rather contributes to maintaining certainty, predictability and coherence in the legal system. It is also noted that judicial discretion is the mechanism by which judges use extra-legal factors such as public policy and moral considerations to assist in interpreting legislation.
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An evaluation of appreciative inquiry as an alternative organisation development approach
- Van der Merwe, Schalk Willem
- Authors: Van der Merwe, Schalk Willem
- Date: 2017
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10962/5925 , vital:20990
- Description: The research provides an insight into the main challenges of previous Organisation Development processes, and Appreciative Inquiry is explored to establish the value it can offer as an alternative which minimises these challenges in today’s organisations. Organisation Development originated during the early 1950s and has evolved, adapted and changed dramatically since then. Two classical Organisation Development processes, Lewin’s 3-Step model and the Action Research spiral, are described, and typical challenges of applying them in today’s organisations are outlined. To remain competitive, organisations need to identify, adjust, and adapt to changing circumstances. These changing circumstances are constant and are due to increasingly complex demands from technological, economic, managerial, and cultural needs. Appreciative Inquiry as an approach is explored as an alternative Organisation Development process: it shifts the question from ‘what is going wrong’ to ‘what is going right in the organisation’. Appreciative Inquiry consists of the Discovery, Dream, Design and Destiny stages, and searches for the best in people and their organisations. In accordance with the constructionist paradigm, the research offers conclusions through the confirmation of past practices, conversations and relationships combined with creative new methods or experimentation of a positive intended future. The One- Group Pretest-Posttest, as a design, was selected to explore the effect of the variable (the Appreciative Inquiry intervention) in relation to the pre- and post-experimental evaluation. The design consists of an initial engagement (Pretest), the influencing variable (an Appreciative Inquiry intervention) and final engagement (Posttest) with the same group. The research was supported by a mixed method approach, with qualitative data supported by quantitative data. The quantitative data provided a general understanding of how participants experienced the change interventions. The qualitative data provided the information on how respondents experienced Organisation Development before an Appreciative Inquiry intervention and their views after an Appreciative Inquiry intervention. A South African secondary school was selected as a research site. Limited research is available regarding the application of Organisation Development and especially Appreciative Inquiry as a process in schools in general, and in South African schools in particular. A survey questionnaire was the instrument for collecting the quantitative data regarding the participants’ biographical information and change process perceptions. For the collection of qualitative data, interview questionnaires were used. The findings indicate that whereas previous change processes appear to have regarded the various staff levels of the school as separate entities, during the Appreciative Inquiry approach all staff were included as being an integral part of the organisation. The main finding after completion of the Appreciative Inquiry intervention was that collectively discussing and defining issues in a positive light instead of a problem to be solved changes the perspective of participants. Through the application of the Appreciative Inquiry’s four stages, participants were invited to think in a new way by applying innovation, enhancing participation, maintaining a positive core, and providing practical solutions through provocative statements. Conclusions reached from the research are that Appreciative Inquiry is a viable alternative for minimising Organisation Development challenges in contemporary organisations. The conclusions are based on factors such as understanding the reason for change; strong leadership; defining what is a successful intervention; understanding the Appreciative Inquiry process, the value of provocative statements; and the sustainability of change.
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- Authors: Van der Merwe, Schalk Willem
- Date: 2017
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10962/5925 , vital:20990
- Description: The research provides an insight into the main challenges of previous Organisation Development processes, and Appreciative Inquiry is explored to establish the value it can offer as an alternative which minimises these challenges in today’s organisations. Organisation Development originated during the early 1950s and has evolved, adapted and changed dramatically since then. Two classical Organisation Development processes, Lewin’s 3-Step model and the Action Research spiral, are described, and typical challenges of applying them in today’s organisations are outlined. To remain competitive, organisations need to identify, adjust, and adapt to changing circumstances. These changing circumstances are constant and are due to increasingly complex demands from technological, economic, managerial, and cultural needs. Appreciative Inquiry as an approach is explored as an alternative Organisation Development process: it shifts the question from ‘what is going wrong’ to ‘what is going right in the organisation’. Appreciative Inquiry consists of the Discovery, Dream, Design and Destiny stages, and searches for the best in people and their organisations. In accordance with the constructionist paradigm, the research offers conclusions through the confirmation of past practices, conversations and relationships combined with creative new methods or experimentation of a positive intended future. The One- Group Pretest-Posttest, as a design, was selected to explore the effect of the variable (the Appreciative Inquiry intervention) in relation to the pre- and post-experimental evaluation. The design consists of an initial engagement (Pretest), the influencing variable (an Appreciative Inquiry intervention) and final engagement (Posttest) with the same group. The research was supported by a mixed method approach, with qualitative data supported by quantitative data. The quantitative data provided a general understanding of how participants experienced the change interventions. The qualitative data provided the information on how respondents experienced Organisation Development before an Appreciative Inquiry intervention and their views after an Appreciative Inquiry intervention. A South African secondary school was selected as a research site. Limited research is available regarding the application of Organisation Development and especially Appreciative Inquiry as a process in schools in general, and in South African schools in particular. A survey questionnaire was the instrument for collecting the quantitative data regarding the participants’ biographical information and change process perceptions. For the collection of qualitative data, interview questionnaires were used. The findings indicate that whereas previous change processes appear to have regarded the various staff levels of the school as separate entities, during the Appreciative Inquiry approach all staff were included as being an integral part of the organisation. The main finding after completion of the Appreciative Inquiry intervention was that collectively discussing and defining issues in a positive light instead of a problem to be solved changes the perspective of participants. Through the application of the Appreciative Inquiry’s four stages, participants were invited to think in a new way by applying innovation, enhancing participation, maintaining a positive core, and providing practical solutions through provocative statements. Conclusions reached from the research are that Appreciative Inquiry is a viable alternative for minimising Organisation Development challenges in contemporary organisations. The conclusions are based on factors such as understanding the reason for change; strong leadership; defining what is a successful intervention; understanding the Appreciative Inquiry process, the value of provocative statements; and the sustainability of change.
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Carbon credit restoration projects in the Eastern Cape province of South Africa: considerations for sustainable local economic development
- Authors: Polak, James Samuel
- Date: 2017
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10962/8069 , vital:21349
- Description: Although global climate change has been identified as a serious global economic, social, and environmental threat to society, national governments have been slow to respond on a global scale. Environmental economic theory offers market-based solutions to address climate change efficiently through carbon control regimes, such as carbon taxation and cap-and-trade policy. A major political milestone was reached when an international agreement entered into force in 2008, known the Kyoto Protocol, which incorporated a market-based solution to address climate change on a global scale. This allowed a global market for emissions to form through the Clean Development Mechanism. Although the Kyoto Protocol aimed to address a global issue on a global scale through a single global market for emissions, fragmented sovereign cap-and-trade schemes have since emerged in the form of national and regional emission markets, commonly referred to as carbon markets. The Clean Development Mechanism offered the opportunity to generate carbon credits through carbon offset projects, such as carbon restoration projects. Although the Kyoto Protocol did not achieve the objective of forming an internationally accepted global carbon control regime, it seems to have set a trend of including offset programs in newly emerging carbon control regimes, such as South Africa’s proposed carbon tax. This study set out to assess the extent to which carbon control regimes are enabling sustainable local economic development, based on carbon restoration projects in the Eastern Cape province of South Africa using Portulacaria afra, commonly known as spekboom. As a starting point, this study assessed the current state of the international carbon markets using significant international cap-and-trade based markets as examples. Based on Newell et al.’s (2013) selection of significant carbon markets and data availability, the United States’ Regional Greenhouse Gas Initiative and the European Union’s Emission Trading Scheme were selected. Historical, current and forecasted supply and demand data were gathered from Thomson Reuters’ Point Carbon research division. Further, historical futures and spot market price and volume data were gathered from the markets to compare how prices have fared over time. The Clean Development Mechanism’s market for Certified Emission Reduction credits was used for comparative purposes. The markets were found to be systemically oversupplied, leading to systemically low prices. The systemic oversupply in credits provides a limited incentive to initiate carbon offset projects, however, South Africa’s proposed carbon tax may be able to stimulate demand for domestic offset projects. Key success factors established through a comparative literature review on local economic development theory were incorporated into key informant interviews. The results were then analysed through the lens of Connelly’s (2007) model for sustainable development to provide recommendations for sustainable local economic development, regarding carbon restoration projects in the Eastern Cape using P. afra. The following opportunities were identified: the planting of P. afra on degraded land has the potential to mitigate climate change, offer water benefits to the surrounding communities, and promote biodiversity regeneration. There is potential for economic growth through job creation and the economic multiplier effect. Government funding is available and voluntary offset agreements do exist, eliminating a large portion of the cumbersome accreditation requirements. These projects also offer potential for social justice through the government funding requirements which stipulate that youth and women should be given preference for employment, potentially helping to alleviate inequality. The funding further stipulates that employees should be trained in transferable skills, offering potential for capacity building and social capital accumulation through education. These transferable skills include skills geared towards encouraging entrepreneurialism. Corresponding challenges were also found: excessive overgrazing through pastoralism has rendered some land degraded beyond restoration. Opportunists may resort to planting P. afra outside of the subtropical Albany Thicket biome to which it is endemic, leading to potential biodiversity loss rather than gains. Sufficient buy-in is required from private landowners for these projects to be sustainable, however, the projects entail a large opportunity cost to farmers as returns take at least 5 to 6 years. This may render these projects undesirable to most landowners and provides scope for free-riding, should pastoralists not have to bear the full costs of the project and property rights not be enforced through land user agreements. The projects require an exorbitant amount of upfront funding. Cash flow received from the projects does not extend in perpetuity. Requirements for social justice pertain only to government funded projects. A working model, generating and selling carbon credits through land restoration using P. afra, has not yet been established. As it stands, these carbon restoration projects are still highly speculative and carry a significant amount of investment risk, given the high mortality and low growth rates associated with the current planting method. The current systemic oversupply of carbon. credits in the international markets signal that returns from carbon credits are set to be low, at least until the oversupply issues are resolved. Should these challenges be overcome, carbon restoration projects using P. afra may have the potential to bolster sustainable local economic development in the impoverished regions of province as well as provide a locally-driven adaptation and mitigation strategy to address global climate change.
- Full Text:
- Authors: Polak, James Samuel
- Date: 2017
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10962/8069 , vital:21349
- Description: Although global climate change has been identified as a serious global economic, social, and environmental threat to society, national governments have been slow to respond on a global scale. Environmental economic theory offers market-based solutions to address climate change efficiently through carbon control regimes, such as carbon taxation and cap-and-trade policy. A major political milestone was reached when an international agreement entered into force in 2008, known the Kyoto Protocol, which incorporated a market-based solution to address climate change on a global scale. This allowed a global market for emissions to form through the Clean Development Mechanism. Although the Kyoto Protocol aimed to address a global issue on a global scale through a single global market for emissions, fragmented sovereign cap-and-trade schemes have since emerged in the form of national and regional emission markets, commonly referred to as carbon markets. The Clean Development Mechanism offered the opportunity to generate carbon credits through carbon offset projects, such as carbon restoration projects. Although the Kyoto Protocol did not achieve the objective of forming an internationally accepted global carbon control regime, it seems to have set a trend of including offset programs in newly emerging carbon control regimes, such as South Africa’s proposed carbon tax. This study set out to assess the extent to which carbon control regimes are enabling sustainable local economic development, based on carbon restoration projects in the Eastern Cape province of South Africa using Portulacaria afra, commonly known as spekboom. As a starting point, this study assessed the current state of the international carbon markets using significant international cap-and-trade based markets as examples. Based on Newell et al.’s (2013) selection of significant carbon markets and data availability, the United States’ Regional Greenhouse Gas Initiative and the European Union’s Emission Trading Scheme were selected. Historical, current and forecasted supply and demand data were gathered from Thomson Reuters’ Point Carbon research division. Further, historical futures and spot market price and volume data were gathered from the markets to compare how prices have fared over time. The Clean Development Mechanism’s market for Certified Emission Reduction credits was used for comparative purposes. The markets were found to be systemically oversupplied, leading to systemically low prices. The systemic oversupply in credits provides a limited incentive to initiate carbon offset projects, however, South Africa’s proposed carbon tax may be able to stimulate demand for domestic offset projects. Key success factors established through a comparative literature review on local economic development theory were incorporated into key informant interviews. The results were then analysed through the lens of Connelly’s (2007) model for sustainable development to provide recommendations for sustainable local economic development, regarding carbon restoration projects in the Eastern Cape using P. afra. The following opportunities were identified: the planting of P. afra on degraded land has the potential to mitigate climate change, offer water benefits to the surrounding communities, and promote biodiversity regeneration. There is potential for economic growth through job creation and the economic multiplier effect. Government funding is available and voluntary offset agreements do exist, eliminating a large portion of the cumbersome accreditation requirements. These projects also offer potential for social justice through the government funding requirements which stipulate that youth and women should be given preference for employment, potentially helping to alleviate inequality. The funding further stipulates that employees should be trained in transferable skills, offering potential for capacity building and social capital accumulation through education. These transferable skills include skills geared towards encouraging entrepreneurialism. Corresponding challenges were also found: excessive overgrazing through pastoralism has rendered some land degraded beyond restoration. Opportunists may resort to planting P. afra outside of the subtropical Albany Thicket biome to which it is endemic, leading to potential biodiversity loss rather than gains. Sufficient buy-in is required from private landowners for these projects to be sustainable, however, the projects entail a large opportunity cost to farmers as returns take at least 5 to 6 years. This may render these projects undesirable to most landowners and provides scope for free-riding, should pastoralists not have to bear the full costs of the project and property rights not be enforced through land user agreements. The projects require an exorbitant amount of upfront funding. Cash flow received from the projects does not extend in perpetuity. Requirements for social justice pertain only to government funded projects. A working model, generating and selling carbon credits through land restoration using P. afra, has not yet been established. As it stands, these carbon restoration projects are still highly speculative and carry a significant amount of investment risk, given the high mortality and low growth rates associated with the current planting method. The current systemic oversupply of carbon. credits in the international markets signal that returns from carbon credits are set to be low, at least until the oversupply issues are resolved. Should these challenges be overcome, carbon restoration projects using P. afra may have the potential to bolster sustainable local economic development in the impoverished regions of province as well as provide a locally-driven adaptation and mitigation strategy to address global climate change.
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Credit extension in South Africa: an analysis of the impact of interest rates and income levels on the level of household debt
- Widdop, James Stuart Hailstones
- Authors: Widdop, James Stuart Hailstones
- Date: 2017
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10962/4988 , vital:20750
- Description: The recent growth in the unsecured lending market and the bankruptcy of African Bank Investments Limited have brought to light concerns regarding credit extension and the level of household indebtedness in South Africa. This study seeks to investigate the relevant aspects of credit extension in both the secured and unsecured lending markets by firstly analysing contemporary literature and then conducting a more formal empirical analysis. A VAR model is estimated to examine the effects household disposable income and interest rates have on the level of household debt in South Africa for the period 1995Q1-2015Q3. The empirical results indicate that there is no significant deterministic relationship between household disposable income and household debt. However, the results show that such a relationship does exist between interest rate and household debt. Finally, impulse response functions obtained from the VAR estimation are examined which indicate that both shocks too household disposable income and interest rates effect the level of household debt, but that this effect returns to equilibrium within six periods.
- Full Text:
- Authors: Widdop, James Stuart Hailstones
- Date: 2017
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10962/4988 , vital:20750
- Description: The recent growth in the unsecured lending market and the bankruptcy of African Bank Investments Limited have brought to light concerns regarding credit extension and the level of household indebtedness in South Africa. This study seeks to investigate the relevant aspects of credit extension in both the secured and unsecured lending markets by firstly analysing contemporary literature and then conducting a more formal empirical analysis. A VAR model is estimated to examine the effects household disposable income and interest rates have on the level of household debt in South Africa for the period 1995Q1-2015Q3. The empirical results indicate that there is no significant deterministic relationship between household disposable income and household debt. However, the results show that such a relationship does exist between interest rate and household debt. Finally, impulse response functions obtained from the VAR estimation are examined which indicate that both shocks too household disposable income and interest rates effect the level of household debt, but that this effect returns to equilibrium within six periods.
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Garnishee orders as a tax collection tool: a critical review of the South African and Zimbabwean models
- Authors: Nzombe, Kudzanayi
- Date: 2017
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10962/8082 , vital:21352
- Description: Taxation statues of most jurisdictions contain provisions that deal with defaulting taxpayers. The taxation statutes of Zimbabwe and South Africa have employed the concept of garnishee orders as a method of recovering tax. This method is codified in the respective taxation statutes under the guise of “third party appointments”, or simply “appointment of an agent”. This method is very convenient and expeditious for the tax collection authorities, namely, the Zimbabwe Revenue Authority (ZIMRA) and the South Africa Revenue Service (SARS). Other jurisdictions have also employed this method, with varying degrees of invasiveness into the taxpayers’ constitutional rights. The concept of garnishee orders can have negative constitutional implications for the taxpayers in both Zimbabwe and South Africa. In Zimbabwe, compared to South Africa, the tax collection field is not as developed in terms of jurisprudence and the legislation. There are lessons that Zimbabwe could learn from South Africa, considering that the latter has experienced more than two decades of constitutional democracy. Therefore, in order to identify areas for development, the two jurisdictions are critically reviewed, with particular attention to the legislative provisions and case law dealing with garnishee orders in the tax collection context. Approaches employed by other countries in relation to similar concepts and provisions are also analysed. The lessons learned from this analysis could suggest a less invasive method of recovering tax from defaulting taxpayers and an approach to be followed by the tax authorities, ZIMRA and SARS that would allow them to fulfil their responsibilities and mandate with taxpayer-friendly measures.
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- Authors: Nzombe, Kudzanayi
- Date: 2017
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10962/8082 , vital:21352
- Description: Taxation statues of most jurisdictions contain provisions that deal with defaulting taxpayers. The taxation statutes of Zimbabwe and South Africa have employed the concept of garnishee orders as a method of recovering tax. This method is codified in the respective taxation statutes under the guise of “third party appointments”, or simply “appointment of an agent”. This method is very convenient and expeditious for the tax collection authorities, namely, the Zimbabwe Revenue Authority (ZIMRA) and the South Africa Revenue Service (SARS). Other jurisdictions have also employed this method, with varying degrees of invasiveness into the taxpayers’ constitutional rights. The concept of garnishee orders can have negative constitutional implications for the taxpayers in both Zimbabwe and South Africa. In Zimbabwe, compared to South Africa, the tax collection field is not as developed in terms of jurisprudence and the legislation. There are lessons that Zimbabwe could learn from South Africa, considering that the latter has experienced more than two decades of constitutional democracy. Therefore, in order to identify areas for development, the two jurisdictions are critically reviewed, with particular attention to the legislative provisions and case law dealing with garnishee orders in the tax collection context. Approaches employed by other countries in relation to similar concepts and provisions are also analysed. The lessons learned from this analysis could suggest a less invasive method of recovering tax from defaulting taxpayers and an approach to be followed by the tax authorities, ZIMRA and SARS that would allow them to fulfil their responsibilities and mandate with taxpayer-friendly measures.
- Full Text:
Malawi’s trilemma: monetary policy independence, exchange rate stability and financial integration
- Authors: Kamamkhudza, Charity
- Date: 2017
- Subjects: Malawi -- Economic conditions , Economic policy -- Malawi , Monetary policy -- Malawi , Foreign exchange rates -- Malawi
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10962/41634 , vital:25112
- Description: Malawi has, in the last few decades, undergone several reforms relating to monetary, exchange rate and financial integration policies in a bid to achieve sustainable economic growth. Despite these reforms, however, the country has barely attained desirable macroeconomic performance. This study sets out to establish if the need for these policy reforms is due to the fact that the country is constrained from the simultaneous achievement of optimal levels of monetary policy independence, exchange rate stability and financial integration, as postulated by the ‘trilemma’. The trilemma is evaluated using an approach introduced by Aizenman et al. (2008), in which the Ordinary Least Squares (OLS) method is applied to a model in which a constant is regressed on indices constructed for the policy intermediate goals; the results indicate that the trilemma is a binding constraint in Malawi and that the largest trade-off is between exchange rate stability and financial integration. Given these constraints, the study also considers the combination of the trilemma intermediate policy goals that has been dominant in the country in the last three decades, using predicted values from the model and a graphical analysis to explore this objective. The analysis reveals that Malawi has, on average, prioritised exchange rate stability and monetary policy independence at the expense of financial integration. The study also assesses how the trilemma intermediate policy goals affect macroeconomic performance, specifically regarding output growth rate and inflation. The results reveal that exchange rate stability is associated with faster output growth, financial integration is associated with higher inflation, and that monetary policy independence is not a significant factor. The results emphasise the importance of consistent stability of the exchange rate if Malawi is to achieve faster and sustainable economic growth. Given this, policy makers must be cautious, as the current floating exchange rate regime, combined with financial integration, could lead to slow growth and high inflation.
- Full Text:
- Authors: Kamamkhudza, Charity
- Date: 2017
- Subjects: Malawi -- Economic conditions , Economic policy -- Malawi , Monetary policy -- Malawi , Foreign exchange rates -- Malawi
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10962/41634 , vital:25112
- Description: Malawi has, in the last few decades, undergone several reforms relating to monetary, exchange rate and financial integration policies in a bid to achieve sustainable economic growth. Despite these reforms, however, the country has barely attained desirable macroeconomic performance. This study sets out to establish if the need for these policy reforms is due to the fact that the country is constrained from the simultaneous achievement of optimal levels of monetary policy independence, exchange rate stability and financial integration, as postulated by the ‘trilemma’. The trilemma is evaluated using an approach introduced by Aizenman et al. (2008), in which the Ordinary Least Squares (OLS) method is applied to a model in which a constant is regressed on indices constructed for the policy intermediate goals; the results indicate that the trilemma is a binding constraint in Malawi and that the largest trade-off is between exchange rate stability and financial integration. Given these constraints, the study also considers the combination of the trilemma intermediate policy goals that has been dominant in the country in the last three decades, using predicted values from the model and a graphical analysis to explore this objective. The analysis reveals that Malawi has, on average, prioritised exchange rate stability and monetary policy independence at the expense of financial integration. The study also assesses how the trilemma intermediate policy goals affect macroeconomic performance, specifically regarding output growth rate and inflation. The results reveal that exchange rate stability is associated with faster output growth, financial integration is associated with higher inflation, and that monetary policy independence is not a significant factor. The results emphasise the importance of consistent stability of the exchange rate if Malawi is to achieve faster and sustainable economic growth. Given this, policy makers must be cautious, as the current floating exchange rate regime, combined with financial integration, could lead to slow growth and high inflation.
- Full Text: