An analysis of the proposed annual mark-to-market taxation of the capital gains of long-term insurance policyholders

This dissertation explores National Treasury's mark-to-market proposal which aims to tax the unrealised capital gains of long-term insurance policyholders on an annual basis. Although the proposal was ultimately rejected it remains under consideration. The mark-to-market proposal is evaluated against its intended purpose. The intended purpose is understood to be the collection by the South African Revenue Service (SARS) of capital gains tax (CGT) which has been 'effectively withheld' from policyholders by the insurer. Having gained an understanding of the mark-to-market proposal and its intended purpose, the proposal will be measured against the following criteria: Does it succeed in recovering capital gains taxes which have been 'effectively withheld' from policyholders? What are the side-effects of the proposal, if any?

Grantor dc:publisher.institution

Department of Commercial Law

Year dc:date.issued

2013

Author dc:creator

• Johnson, Niel

Advisors dc:contributor.advisor

• Titus, Afton
• Gutuza, Tracy

Language dc:language.iso

eng

Handle dc:identifier.uri

http://hdl.handle.net/11427/4640

OAI identifier oai:identifier

oai:open.uct.ac.za:11427/4640