A comparative analysis of the taxation of lease transactions in South Africa, Australia, and Nigeria
- Authors: Galada, Khayalethu
- Date: 2021-04
- Subjects: Tax accounting -- South Africa , Tax accounting -- Australia , Tax accounting -- Nigeria , Taxation -- South Africa Taxation -- Australia Taxation -- Nigeria Accounting
- Language: English
- Type: Master's theses , text
- Identifier: http://hdl.handle.net/10948/51428 , vital:43274
- Description: This treatise compared the tax treatment of lease transactions in South Africa, Australia, and Nigeria from both the lessor and lessee perspective. The analysis revealed that there are similarities and differences in the tax treatment of lease transactions between South Africa, Australia, and Nigeria. In particular, one major difference was that unlike Nigeria, South Africa and Australia have not aligned the income tax treatment of lease transactions with the accounting treatment of lease transactions in terms of IFRS 16. Consequently, the research concludes that certain parts of the tax treatment of lease transactions in South Africa may be deemed to be inadequate as a result of the misalignment between the income tax and accounting treatment of lease transactions and the inconsistency between the income tax and VAT treatment of lease transactions. This research proposes that the South African income tax treatment of lease transactions be revised by aligning the income tax treatment of lease transactions with the accounting treatment of lease transactions for simplicity purposes, and that the inconsistency between the income tax treatment and the value-added tax of lease transactions be eliminated. , Thesis (MCom) -- Faculty of Business and Economic Sciences, Accounting, 2021
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- Date Issued: 2021-04
An analysis of ways in which the South African tax system could be simplified
- Authors: Young, Gail Jeni
- Date: 2021-04
- Subjects: Taxation -- Law and legislation -- South Africa , Income tax -- Law and legislation -- South Africa , South African Revenue Service , Tax administration and procedure -- South Africa , Tax accounting -- South Africa
- Language: English
- Type: thesis , text , Masters , MCom
- Identifier: http://hdl.handle.net/10962/178235 , vital:42923
- Description: It has been said that the fundamental paradox of tax simplification is that, despite consensus, almost every year tax rules become more complex. This thesis considers tax simplification measures which have been implemented internationally, in order to provide a basis for an analysis of ways in which the South African tax system could be simplified. A doctrinal methodology is applied, and an analysis is carried out of possible tax simplification measures, based on the commentary of experts in the field of tax law. Simplification measures adopted in the United Kingdom, Australia, the United States of America, Egypt, and certain European countries are discussed, together with their possible adoption in South Africa. Tax simplification has a broad scope. This research identifies four areas in which the South African tax system could simplified: the simplification of tax legislation, addressing the role of accounting in the simplification process, reducing the number of taxes currently levied, and finally addressing the complexities evident in the SARS e-filing system. This thesis illustrates several measures which could be used to address the current areas of complexity. Re-writing tax legislation to assist the understanding of taxpayers is suggested. An increase in the inclusion rate for individuals of capital gains in taxable income from 40% to 60% is suggested, to compensate for the loss of revenue due to the recommended repeal of donations tax and estate duty. Aligning tax legislation with accounting standards is identified as a possible area for simplification, as there are many similarities between the two systems. To address the usability of SARS’ e-filing platform, suggestions are made regarding the further pre-population of returns, introducing e-invoicing and providing a “sandbox” function that taxpayers could use to familiarise themselves with how e-filing works. This research highlights tax simplification as a process that needs to be prioritized in order to achieve the associated benefits. , Thesis (MCom) -- Faculty of Commerce, Accounting, 2021
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- Date Issued: 2021-04