A critical analysis of the barriers to entry for small business owners imposed by sections 12E(4)(a)(iii) and (d) and paragraph 3(b) of the Sixth Schedule of the Income Tax Act No.58 of 1962

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dc.contributor.authorWillemse, Leonard C.en_ZA
dc.date.accessioned2013-07-03T08:19:32Z
dc.date.available2013-07-03T08:19:32Z
dc.date.issued2012
dc.descriptionCITATION: Willemse, L. C. 2012. A critical analysis of the barriers to entry for small business owners imposed by sections 12E(4)(a)(iii) and (d) and paragraph 3(b) of the Sixth Schedule of the Income Tax Act No.58 of 1962. Journal of Economic and Financial Sciences, 5(2):a298, doi:10.4102/jef.v5i2.298.
dc.descriptionThe original publication is available at https://jefjournal.org.za
dc.description.abstractAccording to National Treasury’s Explanatory Memorandum on the Revenue Laws Amendment Bill, 2008, small businesses in South Africa are instrumental in the growth of the South African economy as they are a source of job creation and a counter to poverty. Research, however, indicates that small businesses face many obstacles, such as relatively high tax compliance costs. It was, therefore, proposed in the 2008 Budget Review that a turnover tax system be implemented for micro businesses with a turnover of up to R1 million per annum to simplify the tax compliance process. Similarly, section 12E was introduced earlier in the Income Tax Act No. 58 of 1962 to offer additional income tax relief to small business owners. Sections 12E(4)(a)(iii) and (d) and paragraph 3(b) of the Sixth Schedule, however, prevent certain small business owners from making use of these concessions. This article investigates these barriers to entry and explores possible solutions to the problems presented by them.
dc.description.urihttps://jefjournal.org.za/index.php/jef/article/view/298
dc.description.versionPublisher's version
dc.format.extent19 pages
dc.identifier.citationWillemse, L. C. 2012. A critical analysis of the barriers to entry for small business owners imposed by sections 12E(4)(a)(iii) and (d) and paragraph 3(b) of the Sixth Schedule of the Income Tax Act No.58 of 1962. Journal of Economic and Financial Sciences, 5(2):a298, doi:10.4102/jef.v5i2.298.
dc.identifier.issn2312-2803 (online)
dc.identifier.urihttp://hdl.handle.net/10019.1/82368
dc.language.isoen
dc.publisherAOSIS
dc.rights.holderAuthor retains copyright
dc.subject.otherIncome taxen_ZA
dc.titleA critical analysis of the barriers to entry for small business owners imposed by sections 12E(4)(a)(iii) and (d) and paragraph 3(b) of the Sixth Schedule of the Income Tax Act No.58 of 1962en_ZA
dc.typeArticle
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