Die skenkingsbelasting- en kapitaalwinsbelastingimplikasies van rentevrye lenings

Du Plessis, Louis Philippus (2007-01)

Thesis (MComm) -- Stellenbosch University, 2007.

Thesis

ENGLISH ABSTRACT: This study explores in the first instance the donations tax implications, specifically in the context of Part V of Chapter II of the Income Tax Act No. 58 of 1962 (“the Act”), and in the second instance the capital gains tax implications of interest-free loans. It is concluded, specifically in light of the relevant statutory definitions as contained in Part V of Chapter II of the Act, that the granting of an interest-free loans should arguably not result in any liability for donations tax in this regard. However, in light of certain problematic statements of the Supreme Court of Appeal on this issue, it is submitted that it cannot be concluded with certainty that interest-free loans will never give rise to donations tax, as lieved in terms of Part V of Chapter II of the Act. It is further concluded that an interest-free loan could in certain circumstances give rise to capital gains tax consequences for the person granting the interest-free loan, more specifically where another related person realises a capital gain that can be attributed to the granting of the interest-free loan. It is also concluded that the provisions of paragraph 38 of the Eighth Schedule to the Act could in theory also apply in the instances where interest-free loans are granted, as consideration for the disposal of an asset by the person receiving the capital advanced under the interest-free loan. However, the actual practical impact of paragraph 38 of the Eighth Schedule to the Act in these circumstances would be negiligible, if any.

AFRIKAANSE OPSOMMING: In die studie word in die eerste instansie die skenkingsbelastingimplikasies, spesifiek in die konteks van Deel V van Hoofstuk II van die Inkomstebelastingwet No. 58 van 1962 (“die Wet”), en in die tweede instansie die kapitaalwinsbelastingimplikasies van rentevrye lenings ondersoek. Dit word bevind dat daar, in die lig van die relevante statutêre definisies soos vervat in Deel V van Hoofstuk II van die Wet, ’n sterk argument daarvoor uit te maak is dat die toestaan van ’n rentevrye lening nie enige skenkingsbelastingimplikasies in dié opsig tot gevolg sal hê nie. Desondanks word dit bevind dat daar, in die lig van sekere problematiese uitsprake van die Appèlhof, nie onomwonde en met ’n oormaat van sekerheid verklaar kan word dat ’n rentevrye lening nooit enige skenkingsbelastingimplikasies, in die konteks van Deel V van Hoofstuk II van die Wet, tot gevolg sal hê nie. Dit word verder bevind dat ’n rentevrye lening egter wel in sekere omstandighede kapitaalwinsbelastinggevolge vir die persoon wat die rentevrye lening toestaan, kan inhou, meer spesifiek waar ’n persoon, wat in ’n spesifieke verhouding staan tot die persoon wat die rentevrye lening toestaan, ’n kapitaalwins realiseer wat toegereken kan word aan die rentevrye lening. Dit word verder bevind dat die bepalings van paragraaf 38 in die Agste Bylae tot die Wet in teorie ook toepassing kan vind in spesifieke omstandighede waar rentevrye lenings toegestaan word, as vergoeding vir ’n bate waaroor die ontvanger van die leningskapitaal beskik het. In die praktyk behoort die bepalings van paragraaf 38 egter weinig (indien enige) impak te hê in sulke omstandighede.

Please refer to this item in SUNScholar by using the following persistent URL: http://hdl.handle.net/10019.1/19881
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