Browsing by Author "Johnson, Niel"

Now showing 1 - 1 of 1
  • Thumbnail Image
    Item
    Open Access
    An analysis of the proposed annual mark-to-market taxation of the capital gains of long-term insurance policyholders
    (2013) Johnson, Niel; Titus, Afton; Gutuza, Tracy
    This dissertation explores National Treasury's mark-to-market proposal which aims to tax the unrealised capital gains of long-term insurance policyholders on an annual basis. Although the proposal was ultimately rejected it remains under consideration. The mark-to-market proposal is evaluated against its intended purpose. The intended purpose is understood to be the collection by the South African Revenue Service (SARS) of capital gains tax (CGT) which has been 'effectively withheld' from policyholders by the insurer. Having gained an understanding of the mark-to-market proposal and its intended purpose, the proposal will be measured against the following criteria: Does it succeed in recovering capital gains taxes which have been 'effectively withheld' from policyholders? What are the side-effects of the proposal, if any?