Browsing by Author "Galt, Harold Hermanus."

Now showing 1 - 3 of 3

An analysis of the South African Revenue Services' recognition of unmarried partners as spouses.
(2002) Galt, Harold Hermanus.; Garach, D.; Sullivan, Phillip Lester.
The focus of this study is on the criteria and processes used by the South African Revenue Services (SARS) in recognising spouses in permanent, unmarried unions. In theoretically positioning this focus, four possible areas of tax benefits were reviewed . These include: (i) donations tax, (ii) capital gains tax, (iii) estate duty tax and (iv) transfer duty. Also , the focus of this study was positioned relative to South African taxation acts. Specifically, three Acts were selected for review, viz.: (i) the Income Tax Act, No. 58 of 1962, the Estate Duty Act, No. 45 of 1955, and the Transfer Duty Act, No. 40 of 1949. These Acts may be understood relative to the South African Constitution's framing of notions like equality - given that these Acts signal the legislation's intention to honour the constitutional rights of its tax-paying citizenry. Furthermore, a theoretical framework that highlights official and espoused perspectives of practice is reviewed as it provides a theoretical frame for this study. Given this legislative and theoretical background the following aims were focussed: (1) To identify the official and espoused criteria used by the South African Revenue Services to recognise unmarried partners as spouses, and (2) To identify the official and espoused processes used b~ the South African Revenue Services to recognise unmarried partners as spouses. The chosen methodology is an explorative descriptive methodology, as situated within a qualitative framework. Data sources are described as constituting the three tax Acts, a senior SARS official, and SARS helpdesk personnel. Data selection criteria are described , and convenience and purposive sampling are the stated data selection techniques. Document analysis and interview schedules were used to collect data. Data was managed and analysed via the use of several data analysis techniques. Results are presented and discussed. Significantly, SARS has non-specific criteria that are nebulous, and open to interpretation. Furthermore, processes are poorly stated and provide insufficient guidance to the taxpayer. Given these outcomes, this study also offers two South African legal cases that cogently illustrate criteria and processes for recognising a spouse. Each of these cases are analysed regarding the criteria and processes used to determine the definition of 'spouse'. These cases, while dealing with issues of same-sex adoption and same-sex partner's rights to remuneration benefits serve to highlight factors that may be of use to SARS. Furthermore, international case exemplars are also discussed. Specifically, Canada's taxation laws were focussed. Canada's criteria and processes used to define common-law partners (read as spouse for purposes of this study) serves as an informative case exemplar, relative to other countries also investigated in this study, viz .: the United States of America , Belgium and other European countries. Finally, several recommendations are stated , and an evaluation of the study is provided.
Exploring public opinion on the International Accounting Standards Board’s conceptual framework exposure draft 2015.
(2019) Kajee, Muhammed Abdool Haq.; Galt, Harold Hermanus.
No abstract available.
The implementation impact of IFRS 16: leases on JSE listed technology and telecommunication companies using a constructive capitalisation model.
(2019) Cumming, Carley Jane.; Galt, Harold Hermanus.
In South Africa and globally, leasing forms part of a significant source of financing for companies. On the 13th January 2016, the IASB released the new lease standard, IFRS 16, which is effective for periods beginning on or after 1 January 2019. For entities that have a significant number of operating leases, IFRS 16 is anticipated to materially affect the figures in the financial statements, capital structure, as well as liquidity and profitability ratios. Numerous stakeholders’ rely on these reported figures and ratios when making entity-related decisions. A constructive capitalisation model shows the likely impact IFRS 16 will have on a company’s financial statements and ratios when implemented. This study analysed the likely impact that IFRS 16 is expected to have on the financial position, financial performance and market ratios for technology and telecommunication companies when a constructive capitalisation model is used. The audited financial statements were obtained for the population of JSE listed technology and telecommunication companies and the constructive capitalisation model applied. The analysis of the data reveals that when the constructive capitalisation model is applied it results in changes in the financial performance, financial position and market ratios for the technology population. However, the changes in the financial position, financial performance and market ratios for the telecommunication population when the constructive capitalisation model is applied, is not considered significant. Keywords: constructive capitalisation, finance leases, IFRS 16, off-balance sheet financing, operating leases