A critical assessment of the capital gains tax as a fiscal policy tool for South Africa

 

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dc.contributor.advisor Fitschen, Amanda en_ZA
dc.contributor.author Marcus, Matthew en_ZA
dc.date.accessioned 2016-05-24T09:13:25Z
dc.date.available 2016-05-24T09:13:25Z
dc.date.issued 2006 en_ZA
dc.identifier.citation Marcus, M. 2006. A critical assessment of the capital gains tax as a fiscal policy tool for South Africa. University of Cape Town. en_ZA
dc.identifier.uri http://hdl.handle.net/11427/19812
dc.description Includes bibliographical references. en_ZA
dc.description.abstract This dissertation attempts to critically analyse the tax on capital gains as an addition to South Africa's fiscal framework. The method of the analysis involves the collation of international research on the effects of capital gains tax on the economies, financial markets, labour markets and revenue authorities of various countries. The focus is on the economic and fiscal areas directly relating to the long-term economic and fiscal policy goals of the South African government. These goals, as well as the justification given by the South African Department of Finance and the South African Revenue Service for the introduction of the capital gains tax are presented in the literature review section of this study. Research of international tax practices indicates that the taxing of capital gains has a depressive effect on capital formation, labour productivity, foreign and domestic direct investment, business creation, entrepreneurship and taxpayer equity. In addition, the introduction of such a tax has no proven growth effects on governmental revenue, and does not significantly dissuade tax avoidance schemes using arbitrage measures. By applying the globally observed effects of the capital gains tax to the long-term policy goals mentioned above, I conclude that the capital gains tax does not assist in the achievement of the economic and fiscal policy goals of the South African government, neither in the short- nor the long-term. Conversely, the capital gains tax acts as a countermeasure to the achievement of the said goals. en_ZA
dc.language.iso eng en_ZA
dc.subject.other Taxation en_ZA
dc.title A critical assessment of the capital gains tax as a fiscal policy tool for South Africa en_ZA
dc.type Master Thesis
uct.type.publication Research en_ZA
uct.type.resource Thesis en_ZA
dc.publisher.institution University of Cape Town
dc.publisher.faculty Faculty of Commerce en_ZA
dc.publisher.department College of Accounting en_ZA
dc.type.qualificationlevel Masters
dc.type.qualificationname MCom en_ZA
uct.type.filetype Text
uct.type.filetype Image
dc.identifier.apacitation Marcus, M. (2006). <i>A critical assessment of the capital gains tax as a fiscal policy tool for South Africa</i>. (Thesis). University of Cape Town ,Faculty of Commerce ,College of Accounting. Retrieved from http://hdl.handle.net/11427/19812 en_ZA
dc.identifier.chicagocitation Marcus, Matthew. <i>"A critical assessment of the capital gains tax as a fiscal policy tool for South Africa."</i> Thesis., University of Cape Town ,Faculty of Commerce ,College of Accounting, 2006. http://hdl.handle.net/11427/19812 en_ZA
dc.identifier.vancouvercitation Marcus M. A critical assessment of the capital gains tax as a fiscal policy tool for South Africa. [Thesis]. University of Cape Town ,Faculty of Commerce ,College of Accounting, 2006 [cited yyyy month dd]. Available from: http://hdl.handle.net/11427/19812 en_ZA
dc.identifier.ris TY - Thesis / Dissertation AU - Marcus, Matthew AB - This dissertation attempts to critically analyse the tax on capital gains as an addition to South Africa's fiscal framework. The method of the analysis involves the collation of international research on the effects of capital gains tax on the economies, financial markets, labour markets and revenue authorities of various countries. The focus is on the economic and fiscal areas directly relating to the long-term economic and fiscal policy goals of the South African government. These goals, as well as the justification given by the South African Department of Finance and the South African Revenue Service for the introduction of the capital gains tax are presented in the literature review section of this study. Research of international tax practices indicates that the taxing of capital gains has a depressive effect on capital formation, labour productivity, foreign and domestic direct investment, business creation, entrepreneurship and taxpayer equity. In addition, the introduction of such a tax has no proven growth effects on governmental revenue, and does not significantly dissuade tax avoidance schemes using arbitrage measures. By applying the globally observed effects of the capital gains tax to the long-term policy goals mentioned above, I conclude that the capital gains tax does not assist in the achievement of the economic and fiscal policy goals of the South African government, neither in the short- nor the long-term. Conversely, the capital gains tax acts as a countermeasure to the achievement of the said goals. DA - 2006 DB - OpenUCT DP - University of Cape Town LK - https://open.uct.ac.za PB - University of Cape Town PY - 2006 T1 - A critical assessment of the capital gains tax as a fiscal policy tool for South Africa TI - A critical assessment of the capital gains tax as a fiscal policy tool for South Africa UR - http://hdl.handle.net/11427/19812 ER - en_ZA


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