http://hdl.handle.net/10500/3012 2013-05-26T06:30:20Z 2013-05-26T06:30:20Z De Clercq, B. Van Aart, C.J. Venter, J.M.P. http://hdl.handle.net/10500/3896 2013-01-11T06:51:52Z 2010-01-01T00:00:00Z

Analysing the consumer market microstructure in South Africa by means of a consumer financial of vulnerability survey : uncovering the predictors of financial vulnerability De Clercq, B.; Van Aart, C.J.; Venter, J.M.P. As with many developing countries, the consumer macrostructure of South Africa is beset with a number of serious problems including high levels of poverty, a very unequal income distribution, negative personal saving rates and high personal gearing ratios. A consumer financial vulnerability study conducted in 2009 showed that South Africans are generally financially vulnerable, thus confirming these problems in the consumer macrostructure and suggested various reasons for the existence of such problems. The question could be asked regarding the reasons for such problems in South Africa given the economic progress that has been made during the post-apartheid era. In order to identify the reasons for the said problems, this paper will focus on the endogenous and exogenous predictors of financial vulnerability in South Africa, which could be derived from the said consumer financial vulnerability survey. Predictors of consumer financial vulnerability uncovered by this study include, inter alia, endogenous predictors such as over-indebtedness, bad financial planning, consumers spending more that they earn. Exogenous factors include adverse economic conditions, age and population group. In the analyses that were conducted for this paper, the usual econometric diagnostics (i.e. co-linearity, autocorrelation and underindentification) of postulated relationships were conducted to ensure valid conclusions regarding predictive relationships. By means of such analyses consumer market microstructure dynamics are described to generate results that could be used to provide input to policy and programme formulation as well as the education of personal financial advisors who deal with financially vulnerable customers. Research article

2010-01-01T00:00:00Z Venter, J.M.P. Stendall, C. http://hdl.handle.net/10500/3894 2013-01-11T06:56:23Z 2010-01-01T00:00:00Z

The influence of life stages on the usage of financial products by South African households Venter, J.M.P.; Stendall, C. South Africa has a well developed financial market providing savers with numerous financial products of which the household’s usage of these products forms the focus of this exploratory study. The first phase of the study used Lindqvist’s saving motives hierarchy as a basis to develop a financial product usage hierarchy. Products used by South African households were then classified into four levels as per the hierarchy. Ando and Modigliani’s life-cycle hypothesis was used to determine if life stages have an impact on the financial products used for each of the levels. The descriptive analyses were complemented by a product usage rating index. The index confirmed the findings of the descriptive analyses namely, that life stages do influence the usage of financial products. “At-home singles” were identified as the group with the lowest usage of financial products for all four saving product hierarchy levels. The product usage rating index found that “Young couples” had the highest usage levels for both cash management products (level 1) and basic savings products (level 3). “Mature families” had the highest ranking in the product usage rating index for precautionary products (level 2) and wealth management products (level 4). This paper was presented at the 2010 North Gauteng Regional Conference.

2010-01-01T00:00:00Z Whitfield, Royden Bryan http://hdl.handle.net/10500/2202 2012-10-29T09:34:08Z 2009-08-25T11:01:23Z

Taxation implications arising from South African residents owning or having a tax interest in fixed property in Greece Whitfield, Royden Bryan This study investigates, identifies and provides flowchart summaries of the various forms of taxation in South Africa and to a lesser extent Greece affecting South African residents who own or have financed fixed property in Greece. These residents have to comply with the Income Tax and Estate Duty Acts in South Africa and the relevant taxation laws in Greece. An amnesty gave South Africans an opportunity to voluntarily declare their fixed properties and to regularise their foreign assets and tax affairs without the fear prosecution. The practical application of the various taxation provisions in both countries is extremely complex and often residents are not even aware that certain provisions apply to them. In addition there is the risk of paying nearly double the marginal rate of Income Tax and Estate Duty in South Africa and double taxation on donations. This study also provides suggestions and possible solutions to problems identified.

2009-08-25T11:01:23Z