Die inkomstebelastinggevolge van winste verdien uit beursverhandelde enkel-aandeeltermynkontrakte
| dc.contributor.advisor | Van Schalkwyk, Christiaan Jacobus | en_ZA |
| dc.contributor.author | Engelbrecht, Bruwer Christo | en_ZA |
| dc.contributor.other | Stellenbosch University. Faculty of Economic and Management Sciences. Dept. of Accountancy. | en_ZA |
| dc.date.accessioned | 2012-03-08T11:04:21Z | en_ZA |
| dc.date.accessioned | 2012-03-30T10:31:49Z | |
| dc.date.available | 2012-03-08T11:04:21Z | en_ZA |
| dc.date.available | 2012-03-30T10:31:49Z | |
| dc.date.issued | 2012-03 | en_ZA |
| dc.description | Thesis (MAcc)--Stellenbosch University, 2012. | en_ZA |
| dc.description.abstract | ENGLISH ABSTRACT: The use of derivative instruments, including single-stock futures, experienced unprecedented growth over the last twenty years. South Africa, like the rest of the world, is still experiencing extraordinary growth in the trading of these instruments. The taxation of these transactions, therefore, are of increasing practical importance. Despite this unprecedented growth, the South African tax policy makers have neglected the tax treatment of these instruments to a large extent. Due to the lack of specific legislative provisions regulating the tax aspects of these instruments, the general principles of the South African income tax law have to be applied. This gives rise to conflicting opinions regarding the tax treatment of these instruments, primarily as a result of the fact that these principles were developed long before the widespread use of derivative instruments. The lack of relevant case law in this regard is also problematic. This results in great uncertainty surrounding the tax treatment of profits from single stock futures. This research paper applies the general principles of the South African income tax law in order to determine when these profits accrue to the taxpayer and to determine the nature thereof. The introduction of capital gains tax has added yet a further dimension to the taxation of these instruments and is also considered. This research paper also considers the income tax treatment of similar instruments in Australia in order to identify useful principles that may be applied within a South African context. In light of the increasing volume and value of derivative transactions, it is imperative that clarity regarding the taxation of these transactions be obtained as soon as possible. Any reform and revised tax rules need to provide certainty to the taxpayer while remaining flexible enough to ensure that future changes in the ever-changing financial instruments environment are accommodated. | en_ZA |
| dc.description.abstract | AFRIKAANSE OPSOMMING: Die gebruik van afgeleide instrumente, waaronder enkel-aandeeltermynkontrakte, het die afgelope twintig jaar ongekende groei beleef. Suid-Afrika, net soos die res van die wêreld, beleef steeds buitengewone groei in die verhandeling van hierdie instrumente. Die belasbaarheid van hierdie transaksies is gevolglik van toenemende praktiese belang. Ten spyte van hierdie ongekende groei, het die belastingbeleidmakers in Suid-Afrika tot ’n groot mate die belastinghantering van hierdie instrumente verwaarloos. Vanweë die gebrek aan spesifieke wetlike bepalings wat die belastingaspekte van laasgenoemde reguleer, moet die algemene beginsels van die Suid-Afrikaanse inkomstebelastingreg op hierdie instrumente toegepas word. Dié beginsels is egter reeds lank voor die wydverspreide gebruik van afgeleide instrumente ontwikkel en lei tot teenstrydige menings rondom die belastinghantering van hierdie instrumente. Die gebrek aan toepaslike regspraak in hierdie verband is ook problematies. Daar heers gevolglik groot onsekerheid oor die inkomstebelastinghantering van winste verdien uit enkel-aandeeltermynkontrakte. Hierdie navorsingswerkstuk pas die algemene beginsels van die Suid-Afrikaanse inkomstebelastingreg toe ten einde die tydstip waarop dié winste aan die belastingpligtige toeval en die aard daarvan te bepaal. Die inwerkingtreding van kapitaalwinsbelasting het nog 'n verdere aspek aan die belasbaarheid van hierdie instrumente toegevoeg en word ook oorweeg. Die navorsingswerkstuk oorweeg ook die inkomstebelastinghantering van soortgelyke instrumente in Australië ten einde nuttige beginsels te identifiseer wat binne Suid-Afrikaanse konteks toegepas kan word. Indien ag geslaan word op die toename in die aantal en waarde van transaksies in afgeleide instrumente, is dit noodsaaklik dat duidelikheid rakende die belasbaarheid daarvan so spoedig doenlik verkry word. Enige hervorming en hersiende belastingreëls moet sekerheid aan die belastingpligtige verskaf, maar moet terselfdetyd buigsaam genoeg wees om ruimte te skep vir toekomstige veranderinge binne die snelgroeiende finansiële instrumente-omgewing. | af_ZA |
| dc.format.extent | 145 p. | |
| dc.identifier.uri | http://hdl.handle.net/10019.1/19993 | |
| dc.language.iso | af_ZA | en_ZA |
| dc.publisher | Stellenbosch : Stellenbosch University | en_ZA |
| dc.rights.holder | Stellenbosch University | |
| dc.subject | Single stock futures --Taxation -- South Africa | en_ZA |
| dc.subject | Derived transactions -- Taxation -- South Africa | en_ZA |
| dc.subject | Dissertations -- Accountancy | en_ZA |
| dc.subject | Theses -- Accountancy | |
| dc.subject | Assignments -- Accountancy | |
| dc.subject.other | Accounting | en_ZA |
| dc.title | Die inkomstebelastinggevolge van winste verdien uit beursverhandelde enkel-aandeeltermynkontrakte | af_ZA |
| dc.type | Thesis |