Kapitaaloordragbelasting in Suid-Afrika : 'n evaluering van die huidige posisie, met spesifieke verwysing na sekere aanbevelings ten opsigte van trusts

[摘要] ENGLISH SUMMARY: The distribution of wealth and income is very unequal in South Africa. Thepoorer 80 percent of the population was prevented from accumulating wealth,largely as a result of political factors. The possibility of tax reformation withregards to capital transfer tax, is an important issue in South Africa, especiallyin times during which the government is under pressure to address theinequality in the distribution of wealth.Wealth can only be taxed directly by means of capital taxes. Capital taxescan be sub-divided into tax on capital gains and wealth tax. Wealth tax canfurther be distinguished into an annual wealth. tax, capital transfer tax andland-tax.The only capital transfer taxes in South Africa are estate duty and donationstax. The Margo and Katz Commissions however made certainrecommendations with regards to the structure of the capital transfer tax inSouth Africa. One of these recommendations was the subjection ofgeneration skipping methods (for example trusts in which no beneficiary has avested right), to capital transfer tax.The apparent unimportant role of capital transfer tax in South Africa, as wellas the possible use thereof to accomplish redistribution necessitates theevaluation of the current capital transfer system in the light of certain generalprinciples, namely neutrality, reasonableness, incentive, economicalefficiency, certainty; simplicity, cost, effectiveness, flexibility and stability.It was found that the capital transfer tax system in South Africa does notcomply with the requirements of neutrality, reasonableness, simplicity andeffectiveness. The following changes will improve this problem: Estate duty and donationsshould be administered through a single act, the rebate of R1 000 000 (withregards to estate duty) should be reviewed, and thereafter adjusted each yearto take into account the effect of inflation, anti-avoidance provisions should beincluded in the estate duty act and capital transfer tax should be calculated onthe difference between interest at an efficient rate and the actual interest rateon low interest and interest free loans.The provisions in the Constitution, the opinion of a tax expert, as well as thereport of the Parliamentary Commission on the results of a discussion aboutthe Katz Commission report, support these all these changes, with the·exception of the tax on low interest and interest free loans. Therefore theabove-mentioned changes, excluding the tax on interest free loans isrecommended to address the problems.Although the reform of the capital transfer tax system in South Africa seemsnecessary, there are certain other factors which should be taken into account:The proportion of direct to indirect taxes in South Africa, which is currentlyhigher than in other developing countries, the administrative capacity of theSouth African Revenue Services, and the incentive to saving and investment.The final decision about the reform of the capital transfer tax system in SouthAfrica is however, a policy consideration, and therefore lies with Government.

[发布机构] Stellenbosch University