A critical analysis of the definition of gross income
- Authors: Beck, Tracy Geraldine
- Date: 2008
- Subjects: Income tax -- Law and legislation -- South Africa -- Interpretation and construction , Capital gains tax -- South Africa , Income tax -- South Africa
- Language: English
- Type: Thesis , Masters , MTech
- Identifier: vital:8977 , http://hdl.handle.net/10948/805 , Income tax -- Law and legislation -- South Africa -- Interpretation and construction , Capital gains tax -- South Africa , Income tax -- South Africa
- Description: Income tax is levied upon a taxpayer’s taxable income. Various steps are taken in order to arrive at the taxpayer’s taxable income. The starting point when calculating taxable income is determining the taxpayer’s ‘gross income’. ‘Gross income’ is defined in terms of section 1 of the Act. Various terms within the gross income definition are not clearly defined, except in the case of a ‘resident’. Even in the case of the definition of a ‘resident’, the aspect of ‘ordinarily resident’ is not defined and nor is the ‘place of effective management’. The following components fall within the definition of ‘gross income’: • The total amount in cash or otherwise; • received by or accrued to, or in favour of, a person; • from anywhere, in the case of a person who is a resident; • from a South African source (or deemed source), in the case of a non-resident; • other than receipts or accruals of a capital nature. The ‘total amount’ in ‘cash or otherwise’ is the first step when determining the taxable income of a taxpayer for a particular year of assessment. Gross income only arises if an amount is received or has accrued; this amount need not be in the form of money but must have a money value. The next component, ‘received by or accrued to’, is related to time and implies that a taxpayer should include amounts that have been ‘received by’, as well as amounts that have ‘accrued to’ him during the year of assessment. ‘Resident’ and ‘non-resident’ unlike the other components, are defined in terms of section 1 of the Income Tax Act. There are two rules used to determine whether natural persons are residents, these are: • To determine whether natural persons are ‘ordinarily resident’; or • where the natural person is not an ‘ordinarily resident’, the ‘physical presence test’ will be applied. ‘Source’ means origin and not place; it is therefore the ‘originating cause of the receipt of the money’. There is no single definition for the word ‘source’ as circumstances may differ in various cases. The facts of each case must be analysed in order to determine the actual source of income for that particular case. The last component of the definition of ‘gross income’ is the exclusion of ‘receipts and accruals of a capital nature’. The Act does not define the meaning of ‘capital nature’ but does indicate that receipts or accruals of a capital nature are, with certain exceptions, not included in ‘gross income’. Receipts or accruals that are not of a capital nature is known as ‘revenue’ and subjected to tax. This study is primarily aimed at an examination of court cases related to the various components falling within the definition of ‘gross income’.
- Full Text:
- Date Issued: 2008
- Authors: Beck, Tracy Geraldine
- Date: 2008
- Subjects: Income tax -- Law and legislation -- South Africa -- Interpretation and construction , Capital gains tax -- South Africa , Income tax -- South Africa
- Language: English
- Type: Thesis , Masters , MTech
- Identifier: vital:8977 , http://hdl.handle.net/10948/805 , Income tax -- Law and legislation -- South Africa -- Interpretation and construction , Capital gains tax -- South Africa , Income tax -- South Africa
- Description: Income tax is levied upon a taxpayer’s taxable income. Various steps are taken in order to arrive at the taxpayer’s taxable income. The starting point when calculating taxable income is determining the taxpayer’s ‘gross income’. ‘Gross income’ is defined in terms of section 1 of the Act. Various terms within the gross income definition are not clearly defined, except in the case of a ‘resident’. Even in the case of the definition of a ‘resident’, the aspect of ‘ordinarily resident’ is not defined and nor is the ‘place of effective management’. The following components fall within the definition of ‘gross income’: • The total amount in cash or otherwise; • received by or accrued to, or in favour of, a person; • from anywhere, in the case of a person who is a resident; • from a South African source (or deemed source), in the case of a non-resident; • other than receipts or accruals of a capital nature. The ‘total amount’ in ‘cash or otherwise’ is the first step when determining the taxable income of a taxpayer for a particular year of assessment. Gross income only arises if an amount is received or has accrued; this amount need not be in the form of money but must have a money value. The next component, ‘received by or accrued to’, is related to time and implies that a taxpayer should include amounts that have been ‘received by’, as well as amounts that have ‘accrued to’ him during the year of assessment. ‘Resident’ and ‘non-resident’ unlike the other components, are defined in terms of section 1 of the Income Tax Act. There are two rules used to determine whether natural persons are residents, these are: • To determine whether natural persons are ‘ordinarily resident’; or • where the natural person is not an ‘ordinarily resident’, the ‘physical presence test’ will be applied. ‘Source’ means origin and not place; it is therefore the ‘originating cause of the receipt of the money’. There is no single definition for the word ‘source’ as circumstances may differ in various cases. The facts of each case must be analysed in order to determine the actual source of income for that particular case. The last component of the definition of ‘gross income’ is the exclusion of ‘receipts and accruals of a capital nature’. The Act does not define the meaning of ‘capital nature’ but does indicate that receipts or accruals of a capital nature are, with certain exceptions, not included in ‘gross income’. Receipts or accruals that are not of a capital nature is known as ‘revenue’ and subjected to tax. This study is primarily aimed at an examination of court cases related to the various components falling within the definition of ‘gross income’.
- Full Text:
- Date Issued: 2008
Absenteeism management at Willard Batteries
- Authors: Paul, Gary William
- Date: 2008
- Subjects: Absenteeism (Labor) -- Management , Absenteeism (Labor) -- South Africa
- Language: English
- Type: Thesis , Masters , MTech
- Identifier: vital:9383 , http://hdl.handle.net/10948/896 , Absenteeism (Labor) -- Management , Absenteeism (Labor) -- South Africa
- Description: The main research problem in this study centred around the assessment of the impact of an absenteeism monitoring and management system at Willard Batteries. The main research problem had five sub-problems which were addressed through the following actions: A literature study was conducted to identify the causes and impact of absenteeism in the workplace. The researcher also conducted interviews with the Human Resources Manager, line managers and employees at Willard Batteries to obtain their views of the absenteeism management strategies utilised, as well as the effects of absenteeism in their organisation. The insights gained from these interviews were incorporated into the questionnaire. The absenteeism figures of the organisation for the period 2005 to 2008 were analysed and compared against the internationally accepted absenteeism norm of three percent. An absence rate above three percent is considered as unacceptable and would imply that the current absenteeism management system is not effective. The theoretical study also entailed the reviewing of the legal framework within which absenteeism needs to be managed, as well as the literature that deals with strategies for the effective management of absenteeism. These strategies relate to the recording, calculation, analysis, benchmarking and practical management of absenteeism in the workplace. A survey questionnaire was developed to determine the perceptions of managers, supervisors and employees in relation to the impact of absenteeism on the company as well as the extent to which managers and supervisors were utilising selected absenteeism monitoring and management strategies within the company. The results from the empirical study revealed that management and supervisors were more aware of the impact of absenteeism on the organisation than their employees. It can therefore be concluded that employees perceived their absence from work to have little impact on aspects such as employee morale, cost, production and the customer. This could possibly be due to ineffective communication in terms of the cost and other consequences of absenteeism in the organisation. Employees also felt that managers were effective in taking the necessary disciplinary action with regards to absenteeism-related transgressions, but that they were not diligent in the recording and communication of absence information, as well as comparing absenteeism information inter-departmentally. Absenteeism has proven to be globally pervasive, expensive and extremely disruptive to organisations. Managers and supervisors who employ the various absence monitoring and management strategies, could be more effective in improving employee attendance. Their efforts could be further enhanced if employees are made aware of the negative impact that their absence has on the morale of their fellow employees, the cost to the company, the customer, as well as the achievement of production targets and the quality of outputs.
- Full Text:
- Date Issued: 2008
- Authors: Paul, Gary William
- Date: 2008
- Subjects: Absenteeism (Labor) -- Management , Absenteeism (Labor) -- South Africa
- Language: English
- Type: Thesis , Masters , MTech
- Identifier: vital:9383 , http://hdl.handle.net/10948/896 , Absenteeism (Labor) -- Management , Absenteeism (Labor) -- South Africa
- Description: The main research problem in this study centred around the assessment of the impact of an absenteeism monitoring and management system at Willard Batteries. The main research problem had five sub-problems which were addressed through the following actions: A literature study was conducted to identify the causes and impact of absenteeism in the workplace. The researcher also conducted interviews with the Human Resources Manager, line managers and employees at Willard Batteries to obtain their views of the absenteeism management strategies utilised, as well as the effects of absenteeism in their organisation. The insights gained from these interviews were incorporated into the questionnaire. The absenteeism figures of the organisation for the period 2005 to 2008 were analysed and compared against the internationally accepted absenteeism norm of three percent. An absence rate above three percent is considered as unacceptable and would imply that the current absenteeism management system is not effective. The theoretical study also entailed the reviewing of the legal framework within which absenteeism needs to be managed, as well as the literature that deals with strategies for the effective management of absenteeism. These strategies relate to the recording, calculation, analysis, benchmarking and practical management of absenteeism in the workplace. A survey questionnaire was developed to determine the perceptions of managers, supervisors and employees in relation to the impact of absenteeism on the company as well as the extent to which managers and supervisors were utilising selected absenteeism monitoring and management strategies within the company. The results from the empirical study revealed that management and supervisors were more aware of the impact of absenteeism on the organisation than their employees. It can therefore be concluded that employees perceived their absence from work to have little impact on aspects such as employee morale, cost, production and the customer. This could possibly be due to ineffective communication in terms of the cost and other consequences of absenteeism in the organisation. Employees also felt that managers were effective in taking the necessary disciplinary action with regards to absenteeism-related transgressions, but that they were not diligent in the recording and communication of absence information, as well as comparing absenteeism information inter-departmentally. Absenteeism has proven to be globally pervasive, expensive and extremely disruptive to organisations. Managers and supervisors who employ the various absence monitoring and management strategies, could be more effective in improving employee attendance. Their efforts could be further enhanced if employees are made aware of the negative impact that their absence has on the morale of their fellow employees, the cost to the company, the customer, as well as the achievement of production targets and the quality of outputs.
- Full Text:
- Date Issued: 2008
An evaluation of how dividend policies impact on the share value of selected companies
- Authors: Barman, Graham Paul
- Date: 2008
- Subjects: Dividends , Corporations -- Valuation
- Language: English
- Type: Thesis , Masters , MTech
- Identifier: vital:8976 , http://hdl.handle.net/10948/806 , Dividends , Corporations -- Valuation
- Description: Wealth maximisation for shareholders is a combination of dividend payouts and an increase in share price. Management, as custodians of shareholder interest, should therefore consciously work towards influencing the share price favourably. The purpose of this study is to examine and analyse, through an empirical study, dividend policy and the effect, if any, it has on the value of shares by conducting a survey among financial managers to measure their views regarding dividends and share value and to either validate or disprove the academic explanation of the practice of paying dividends.
- Full Text:
- Date Issued: 2008
- Authors: Barman, Graham Paul
- Date: 2008
- Subjects: Dividends , Corporations -- Valuation
- Language: English
- Type: Thesis , Masters , MTech
- Identifier: vital:8976 , http://hdl.handle.net/10948/806 , Dividends , Corporations -- Valuation
- Description: Wealth maximisation for shareholders is a combination of dividend payouts and an increase in share price. Management, as custodians of shareholder interest, should therefore consciously work towards influencing the share price favourably. The purpose of this study is to examine and analyse, through an empirical study, dividend policy and the effect, if any, it has on the value of shares by conducting a survey among financial managers to measure their views regarding dividends and share value and to either validate or disprove the academic explanation of the practice of paying dividends.
- Full Text:
- Date Issued: 2008
Corporate governance for sustainable development : implications for non-executive directors and the management accounting function
- Jodwana, Thembinkosi Anthony Vincent
- Authors: Jodwana, Thembinkosi Anthony Vincent
- Date: 2008
- Subjects: Corporate governance , Sustainable development , Directors of corporations , Corporations -- Finance -- Management
- Language: English
- Type: Thesis , Masters , MTech
- Identifier: vital:8975 , http://hdl.handle.net/10948/807 , Corporate governance , Sustainable development , Directors of corporations , Corporations -- Finance -- Management
- Description: This paper will discuss the role that corporate governance can play in promoting sustainable development. Sustainable development is discussed in relation to three things: • Current development which does not result in the damage and destruction of the environment to the detriment of future inhabitants of this planet. This paper will discuss the role that corporate governance can play in promoting sustainable development. Sustainable development is discussed in relation to three things: • Current development which does not result in the damage and destruction of the environment to the detriment of future inhabitants of this planet.
- Full Text:
- Date Issued: 2008
- Authors: Jodwana, Thembinkosi Anthony Vincent
- Date: 2008
- Subjects: Corporate governance , Sustainable development , Directors of corporations , Corporations -- Finance -- Management
- Language: English
- Type: Thesis , Masters , MTech
- Identifier: vital:8975 , http://hdl.handle.net/10948/807 , Corporate governance , Sustainable development , Directors of corporations , Corporations -- Finance -- Management
- Description: This paper will discuss the role that corporate governance can play in promoting sustainable development. Sustainable development is discussed in relation to three things: • Current development which does not result in the damage and destruction of the environment to the detriment of future inhabitants of this planet. This paper will discuss the role that corporate governance can play in promoting sustainable development. Sustainable development is discussed in relation to three things: • Current development which does not result in the damage and destruction of the environment to the detriment of future inhabitants of this planet.
- Full Text:
- Date Issued: 2008
The perceptions of Chinese tourists of the Western Cape Region travel destination
- Authors: Hu, Jiang
- Date: 2008
- Subjects: Chinese -- Travel -- South Africa -- Western Cape -- Attitudes , Tourism -- South Africa -- Marketing , Tourism -- South Africa
- Language: English
- Type: Thesis , Masters , MTech
- Identifier: vital:9365 , http://hdl.handle.net/10948/967 , Chinese -- Travel -- South Africa -- Western Cape -- Attitudes , Tourism -- South Africa -- Marketing , Tourism -- South Africa
- Description: As a result of significantly improving relationship between South Africa and China, Chinese tourists traveling to South Africa have become a more noticeable group of travelers. More and more Chinese tourists choose South Africa as a tourism destination; especially Cape Town in the Western Cape region for a variety purposes such as relaxation, business and/or shopping. This research investigates the perceptions and motivation of Chinese tourists coming to the Western Cape region of South Africa. The proposed strategy of promoting the Western Cape region as a travel destination can be made based on the perceptions and motivation of Chinese tourists to the Western Cape. The study focuses on clearly understanding the perception of Chinese tourists by studying tourist behaviour and consumer motivation. The process of decision making and factors impacting on decision making are addressed in the research. A survey questionnaire was administered to Chinese tourists visiting South Africa. The primary data received by questionnaire was analyzed to show what actually Chinese tourists consider Western Cape as a travel destination. The Statistical Package of Social Science (SPSS) was utilized for analysis of data collected by the questionnaire. These general groups of data are discussed in the research. There are personal information, the motivation for travelling, and perceptions of respondents in the Western Cape region in South Africa.
- Full Text:
- Date Issued: 2008
- Authors: Hu, Jiang
- Date: 2008
- Subjects: Chinese -- Travel -- South Africa -- Western Cape -- Attitudes , Tourism -- South Africa -- Marketing , Tourism -- South Africa
- Language: English
- Type: Thesis , Masters , MTech
- Identifier: vital:9365 , http://hdl.handle.net/10948/967 , Chinese -- Travel -- South Africa -- Western Cape -- Attitudes , Tourism -- South Africa -- Marketing , Tourism -- South Africa
- Description: As a result of significantly improving relationship between South Africa and China, Chinese tourists traveling to South Africa have become a more noticeable group of travelers. More and more Chinese tourists choose South Africa as a tourism destination; especially Cape Town in the Western Cape region for a variety purposes such as relaxation, business and/or shopping. This research investigates the perceptions and motivation of Chinese tourists coming to the Western Cape region of South Africa. The proposed strategy of promoting the Western Cape region as a travel destination can be made based on the perceptions and motivation of Chinese tourists to the Western Cape. The study focuses on clearly understanding the perception of Chinese tourists by studying tourist behaviour and consumer motivation. The process of decision making and factors impacting on decision making are addressed in the research. A survey questionnaire was administered to Chinese tourists visiting South Africa. The primary data received by questionnaire was analyzed to show what actually Chinese tourists consider Western Cape as a travel destination. The Statistical Package of Social Science (SPSS) was utilized for analysis of data collected by the questionnaire. These general groups of data are discussed in the research. There are personal information, the motivation for travelling, and perceptions of respondents in the Western Cape region in South Africa.
- Full Text:
- Date Issued: 2008
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