scholarly journals An investigation into the future of discretionary trusts in South Africa: An income tax perspective: Part 2

2017 ◽  
Vol 20 (1) ◽  
Author(s):  
Sophia M. Brink
Keyword(s):  
South Africa ◽  
South African ◽  
Income Tax ◽  
Tax Planning ◽  
Literature Study ◽  
Estate Planning ◽  
National Budget ◽  
Tax Practitioners ◽  
The Future ◽  
Legislative Measures

Background: Trusts have long been used as an estate planning mechanism, including the avoidance of estate duty and donations tax. In the 2016 National Budget the Minister of Finance indicated that Government was proposing several legislative measures during 2016/2017 to prevent individuals from using a trust to avoid estate duty (and donations tax to a certain extent). Unexpectedly, the 2016 draft Taxation Laws Amendment Bill and the final Amendment Bill did not give effect to any of these proposals, but introduced other less drastic measures to control the abuse of trusts for tax purposes, albeit with the same stated purpose.Aim: The main aim of the study was to clarify the reform proposals (albeit unclear and consequently based on certain assumptions) and to compare the reform proposals with the final amendments. This comparison will shed some light on the fairness and appropriateness of the final amendments and, more importantly, on the possibility that the reform proposals published by National Treasury in February 2016 not included in the final amendments will be enacted in the future. This investigation will assist tax practitioners and taxpayers in effective tax and estate planning, given that the reform proposals and final amendments have a possible impact on the future of discretionary trusts in South Africa.Setting: This article examines existing literature in a South African income tax environment.Methods: In order to meet this objective a qualitative approach based on a literature study of pure theoretical aspects was used.Results and conclusion: It was found that should the reform proposals become law, many trusts would become ineffective from a tax-planning perspective and these changes might erode other benefits trusts offer, jeopardising the future of discretionary trusts in South Africa.

scholarly journals An investigation into the future of discretionary trusts in South Africa – An income tax perspective

2014 ◽  
Vol 7 (3) ◽  
pp. 797-818 ◽  
Author(s):  
Sophia Brink ◽  
Leonard Willemse
Keyword(s):  
South Africa ◽  
Income Tax ◽  
Tax Avoidance ◽  
Qualitative Approach ◽  
Literature Study ◽  
National Budget ◽  
Flow Through ◽  
Potential Impact ◽  
The Government ◽  
Legislative Measures

Trusts have long been associated with elaborate tax avoidance schemes, primarily as a result of their flow-through nature. In the National Budget the Minister of Finance indicated that the government was proposing several legislative measures during 2013/2014 regarding trusts to control abuse. At this stage the proposals are vague and confusing, but it is intimated that the conduit pipe principle may be under review as the proposals state that trusts should no longer act as a flow-through vehicle, meaning that the amounts distributed to the beneficiaries will no longer retain their original identity. The main objective of the research was to clarify the proposed changes to the taxation of trusts, to investigate the potential impact(s) of these proposals (albeit unclear and consequently based on certain assumptions), and to assess whether discretionary trusts still have a future in South Africa given these proposals. In order to meet this objective, a qualitative approach based on a literature study of pure theoretical aspects was used. It was found that should the proposals become law the beneficiaries will be worse off.

scholarly journals Reportable arrangements: Tax partner perceptions of some problematic terminology

2014 ◽  
Vol 7 (1) ◽  
pp. 145-186
Author(s):  
Lee-Ann Steenkamp ◽  
Peter Cramer
Keyword(s):  
South Africa ◽  
South African ◽  
Income Tax ◽  
Reporting System ◽  
The South ◽  
Literature Study ◽  
Public Comment ◽  
Research Findings ◽  
Partner Perceptions

The South African Revenue Service (SARS) implemented a more aggressive reporting system in 2008 by introducing new reportable arrangements ('RA') provisions in the Income Tax Act. In March 2010, SARS issued a revised Draft Guide to Reportable Arrangements for public comment. More than three years after its release, there is still no finalised, updated guide available to address the 'new' RA provisions. Determining when arrangements should be reported to SARS therefore remains both problematic and onerous. It is the purpose of this article to examine some of the problematic terminology in an attempt to afford South African taxpayers greater clarity in the identification and disclosure of RAs. The research findings are tested through a survey conducted among tax partners and directors at a sample of 40 leading audit and legal firms in South Africa. The majority of respondents agreed with the conclusions drawn from the literature study.

Fire on the Mountain: Reinvigorating Legislative Measures to Quench the Flame of Illicit Drug Use in South Africa

2020 ◽  
Vol 3 (2) ◽  
pp. 15-29
Author(s):  
Sogo Angel Olofinbiyi ◽  
Thembelihle Mtambo
Keyword(s):  
South Africa ◽  
Drug Use ◽  
South African ◽  
Illicit Drugs ◽  
Illicit Drug ◽  
Illicit Drug Use ◽  
Critical Discussion ◽  
African Government ◽  
Clear Cut ◽  
Legislative Measures

South African societies have been characterized by the prolific incidence of illicit drug use in recent times.  The paper attempts to examine the legislations implemented on the use of illicit drugs in South Africa. The study adopts a review of the literature to identify and describe the most common illicit drugs used around South Africa communities, placing emphasis on the policies developed by the South African government in combating these situations. The research follows a critical   discussion on the issues associated with drug use, its causes, as well as its effects on humans and the environment. The study recommends relevant initiatives to combat all intricacies associated with drug use within the country. This approach will be appropriate in facilitating a clear-cut   understanding of the possible remedies to quench the burning flame of illicit drug use across a broad range of South African communities.

An overview of the current state of interlibrary loans in South Africa

2015 ◽  
Vol 43 (2) ◽  
pp. 76-83
Author(s):  
Jenny Raubenheimer ◽  
John Stephen van Niekerk
Keyword(s):  
South Africa ◽  
South African ◽  
Information Provision ◽  
Literature Study ◽  
Content Type ◽  
Current Trends ◽  
Current State ◽  
Computer Library ◽  
Practical Implications ◽  
Essential Service

Purpose – The purpose of this paper is to review interlending development in South Africa and current trends in interlending. Design/methodology/approach – Literature study and survey. Findings – Interlending is still an essential service in South Africa. Interlending systems must be used effectively to ensure rapid delivery of requested interlibrary loans. There is a significant use of WorldShare ILL, but there is a scope for substantial development. Research limitations/implications – This is not a comprehensive study but focusses on current interlending activities at some of the larger South African academic and special libraries and the use of Online Computer Library Centre systems. Practical implications – The paper provides some historical information and the extent of current interlending and systems used. Social implications – The paper gives an indication of the value of interlending in South Africa and its contribution to information provision. Originality/value – The paper provides a snapshot of interlending in South Africa and areas for development.

The birth of educational archaeology in South Africa

Antiquity ◽  
2000 ◽  
Vol 74 (283) ◽  
pp. 159-165 ◽  
Author(s):  
Amanda B. Esterhuysen
Keyword(s):  
South Africa ◽  
South African ◽  
African Education ◽  
The Past ◽  
The Future ◽  
South African Education

Archaeology in education has been introduced in South Africa only recently as the politics of the past precluded the application of archaeology in the classroom. This paper presents the background to South African education and educational archaeology and discusses some of the issues and studies undertaken in South Africa. It also offers comment on the factors which determine and shape educational archaeology of the present and those that may affect the discipline of archaeology in the future.

scholarly journals Legislation and employment relations in South Africa: A narrative overview of workplace dispute

2015 ◽  
Vol 4 (4) ◽  
pp. 167-177
Author(s):  
Shadrack Themba Mzangwa
Keyword(s):  
South Africa ◽  
South African ◽  
Trade Unions ◽  
The State ◽  
Employment Relations ◽  
The World ◽  
Integral Role ◽  
Disciplinary Procedures ◽  
African Perspective ◽  
Legislative Measures

This paper provides an overview of legislative measures applied in handling grievances and disciplinary matters in the workplace from the South African perspective. South Africa is one of the unionised countries in the world and the involvement of trade unions in resolving disputes including grievances and disciplinary matters is crucial. Trade unions, employers’ organisations and the state play an integral role in employment relations. Unions represent their members during dispute proceedings at various institutions where they (trade unions) are recognised. The country’s statutory measures must always be adhered-to in the handling of grievances and disciplinary procedures. The author relates the manner in which grievances and disciplinary proceedings are handled in a unionised workplace environment.

scholarly journals An evaluation of the income tax treatment of client loyalty programme transactions by South African suppliers

2015 ◽  
Vol 8 (1) ◽  
pp. 145-164
Author(s):  
Sophia Brink
Keyword(s):  
South Africa ◽  
South African ◽  
Income Tax ◽  
International Literature ◽  
Financial Loss ◽  
The South ◽  
The Past ◽  
Loyalty Programme

The popularity of client loyalty programmes has increased drastically over the past few years, with more than 100 suppliers in South Africa currently making use of them. Despite the fact that client loyalty programmes have been prevalent in South Africa since the 1980s, the South African Revenue Service has issued no specific guidance on the income tax treatment of client loyalty programme transactions. The main objective of the research was to determine whether South African client loyalty programme suppliers treat client loyalty programme transactions correctly for income tax purposes. In order to meet this objective, available local and international literature were analysed to determine the proposed income tax treatment of a client loyalty programme transaction expenditure incurred by supplier for purposes of the client loyalty programme. The proposed correct income tax treatment was compared with a survey circulated to a population of client loyalty programme suppliers in South Africa. The comparison indicated that in practice the Income Tax Act No. 58 of 1962 is treated differently from the proposed treatment. This incorrect tax treatment could result in possible financial loss to the client loyalty programme supplier as taxpayer.

scholarly journals Evaluation of corporate integrated reporting in South Africa post King III release South Africa: An exploratory enquiry

2013 ◽  
Vol 6 (2) ◽  
pp. 421-438 ◽  
Author(s):  
Theophilus S. Makiwane ◽  
Nirupa Padia
Keyword(s):  
South Africa ◽  
Risk Management ◽  
Corporate Governance ◽  
Financial Performance ◽  
South African ◽  
Listed Companies ◽  
Integrated Reporting ◽  
Management Processes ◽  
The Future ◽  
Governance Risk

Following the release of the King III report on Corporate Governance for South Africa, which became effective in March 2010, South African companies are expected to embrace the concept of integrated reporting in terms of which they are required to provide details of their strategies, corporate governance, risk management processes, financial performance and sustainability. More importantly, companies need to show how these components of integrated reporting are linked to one another so that stakeholders can make informed decisions about such companies’ current performance as well as their ability to create and sustain value in the future. The purpose of this study was to determine whether the level of reporting by South African listed companies has improved since the release of the King III report. It was subsequently found that there have been some progress in this regard, but there is still much room for improvement if the objectives of integrated reporting are to be fully met.

scholarly journals “A Sense of an Absent Future.” Pervading Post-apartheid South African Literature: Re-conceptualisations of Temporality in André Brink’s Transitional Writings

Werkwinkel ◽  
2019 ◽  
Vol 14 (1-2) ◽  
pp. 37-58
Author(s):  
Paulina Grzęda
Keyword(s):  
South Africa ◽  
South African ◽  
African Literature ◽  
Global South ◽  
The Other ◽  
South Africans ◽  
The Enlightenment ◽  
Realist Novels ◽  
The Future ◽  
South African Literature

AbstractNumerous commentators have recently indicated a prevailing sense among South africans of a historical repetition, a pervasive sentiment that the country has failed to shake off the legacy of apartheid, which extends into the present, and possibly also the future. 1 Such an observation has led South African psychologist, derek Hook, to conclude that in order to adequately address the post-apartheid reality and allow the process of working through trauma, there is a need to abandon the linear Judeo-Christian model of time derived from the Enlightenment. Instead, Hook advocates to start thinking of post-apartheid South Africa not as a socio-economically or racially stratified society, but rather as a country of unsynchronized, split, often overlapping temporalities. Thus, he offers to perceive of ‘chaffing temporalities’ of the contemporary predicament. Resende and Thies, on the other hand, call for a need for a reconceptualised approach to temporality not only when dealing with heavily traumatized postcolonial countries such as South Africa, but more generally when addressing the geopolitics of all the countries of the so-called ‘Global South.’ My paper will discuss the manner in which reconceptualised postcolonial temporality has been addressed by South African transitional writings by André Brink. I will argue that, although Brink’s magical realist novels of the 1990s imaginatively engage with ‘the chaffing temporalities’ of the post-apartheid predicament, their refusal to project any viable visions of the country’s future might ultimately problematise the thorough embrace of Hook’s ‘ethics of temporality.’

scholarly journals Perceptions, expectations, apprehensions and realities of graduating South African optometry students (PEAR study, 2006)

2007 ◽  
Vol 66 (3) ◽  
Author(s):  
A. O. Oduntan ◽  
A. Louw ◽  
V. R. Moodley ◽  
M. Richter ◽  
P. Von Poser
Keyword(s):  
South Africa ◽  
South African ◽  
Relevant Information ◽  
Response Scale ◽  
Public And Private ◽  
New Graduates ◽  
The Future ◽  
The Uk ◽  
Graduating Students ◽  
Optometry Students

The objective of this study was to establish the perceptions, expectations, apprehensions and realities of South Africa optometry students completing their undergraduate studies in 2006. Copies of a questionnaire containing relevant information were distributed to all graduating students at the four Universities offering Optometry. The responses were coded and analyzed. The respondents (N=143), representing 77% of the graduating students included 27.3% males and 72.7% females, aged 20 to 37 years (mean = 23.34 ± 2.75). About a third (32.9%) of the respondents considered opening their own practice as the best way of entering into practice. Also, this mode of practice was considered as providing the greatest fulfilment for their personal (60.8%) and professional (53.8%) goals as well as offering long  term financial security (43.7%). Many (56.6%) have secured employment before graduation. Upon graduation, 43.4% would like to join a franchise.  Many (79.7%) felt that Government was not offering sufficient opportunities for optometrists. The majority, (70.6%) felt that the South African optometry profession is fastly becoming saturated and this was of great concern to many (31.5%). About half, (50.3%) have plans to go overseas to practice and the most common destinations were the UK (36.1%) and Australia (15%).  The mean minimum monthly salary expected as new graduates was between R9 500 and R11 500 in the public and private sectors respectively. On a response scale, the future of optometry in South Africa was scored as 6.59 ± 1.92. Findings in this study may be useful to all stake holders in optometric education in South Africa, as they may reflect the future of the optometry profession in the country.

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