Browsing by Author "Davis, D M"

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    Certain aspects relating to the taxation of collective investment schemes in South Africa
    (2004) Truswell, Stewart; Davis, D M
    [pg 24 is missing] This paper examines certain aspects of the taxation relating to collective investment schemes (sometimes referred to- both generally and in this paper- as unit trusts), particularly equity collective investment schemes structured as trusts.
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    Utilisation of assessed losses in South Africa and an overview of some of the lessons to learn from some reported judgments on the topic
    (1996) Ngalwana, Vuyani R; Davis, D M
    Income tax has been and will continue to be the subject of much emotion, in some instances the distinction between tax evasion and tax avoidance being blurred beyond comprehension. MacDonald JP once vented his judicial spleen and hurled his person, with respect rather unceremoniously, armed with gown and gavel (perhaps much to the relief of the taxpayer's counsel), into a hysteria of emotional outburst as follows: [f]he avoidance of tax is an evil. Not only does it mean that a taxpayer escapes the obligation of making his proper contribution to the fiscus, but the effect must necessarily be to cast an additional burden on taxpayers who, imbued with a greater sense of civic responsibility, make no attempt to escape or, lacking the financial means to obtain the advice and set up the necessary tax-avoidance machinery, fail to do so. Moreover, the nefarious practice of tax avoidance arms , opponents of our capitalistic society with potent arguments that it is only the rich, the astute and the ingenious who prosper in it and that 'good citizens' will always .fare -badly. While undoubtedly the short term effects of the practice are serious, the long term effects could be even more so.