OpenUCT :: Browsing by Author "Van Wyk, Koos"

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Farm and factory : an analysis of the distinctions between and fiscal treatment of taxpayers simultaneously carrying on farming operations and manyfacturing processes under the Income Tax Act No. 58 of 1962
(2009) Katzke, August Charles Rudolf; Roeleveld, Jennifer; Van Wyk, Koos
The Income Tax Act No. 58 of 1962 contains favourable concessions applicable to taxpayers who derive income from the carrying on of farming operations. Taxpayers who carry on processes of manufacture may also expect favourable fiscal treatment, albeit to a lesser extent. The most relevant concessions applicable to the aforementioned distinct classes of taxpayers are discussed, and where applicable, reference is made to judicial commentaries and the literature as regards potential interpretational difficulties. Accordingly, it is submitted that the first mentioned class of taxpayers above receive more extensive concessions with more favourable results than the latter.