Crowdfunding is an innovative tool used by entrepreneurs and small businesses to access
capital from sources other than the financial services and the banking industry. It is one of
the most promising tools to assist in enabling economic growth, job creation and
innovation by supplying capital to entrepreneurs and small businesses. Crowdfunding
refers to a method of raising funds by using social media and social networks. The main
crowdfunding models identified (classified on the basis of the type of return received in
exchange for the funds provided) are: the donation model, the rewards model, the debt
model and the equity model. Since there are currently no specific tax legislation provisions
in South Africa for crowdfunding transactions, the tax implications of crowdfunding
transactions fall within the general tax principles of the Income Tax Act. The tax treatment
of crowdfunding models is not always certain. The main purpose of this study is to
determine whether specific legislation or amendments to existing provisions are required
for crowdfunding transactions or whether the existing provisions are sufficient in South
Africa. The main focus is from a tax perspective but other relevant existing legislative
requirements such as the Companies Act that have an influence on tax legislation, have
also been considered. An exploratory mixed method approach was followed by
conducting a literature study, conducting interviews and also obtaining results from a
survey instrument. This study aims to assist in developing and establishing a distinct
framework for the South African crowdfunding industry. It is proposed that a single tax
credit should be introduced for funders to accommodate crowdfunding performed in
support of small businesses.
Skarefinansiering is ’n innoverende hulpmiddel wat deur entrepreneurs en klein
ondernemings gebruik word om kapitaal van bronne anders as finansiële dienste en die
bankbedryf te verkry. Dit is een van die belowendste hulpmiddels om ekonomiese groei,
werkskepping en innovering moontlik te maak deur kapitaal aan entrepreneurs en klein
ondernemings te voorsien. Skarefinansiering verwys na ‘n metode om fondse in te samel
deur van sosiale media en sosiale netwerke gebruik te maak. Die hoofmodelle van
skarefinansiering wat geïdentifiseer is (geklassifiseer op grond van die soort opbrengs wat
ontvang word in ruil vir die fondse wat voorsien word) is die skenkingsmodel, die
vergoedingsmodel, die skuldmodel en die ekwiteitsmodel. Aangesien daar in Suid-Afrika
tans geen spesifieke voorsiening in belastingwetgewing vir skarefinansieringstransaksies
gemaak word nie, sorteer die implikasies van skarefinansieringstransaksies binne die
algemene belastingbeginsels van die Inkomstebelastingwet. Die hantering van belasting
van skarefinansieringsmodelle is nie altyd seker nie. Die hoefdoel van hierdie studie was
om te bepaal of spesifieke wetgewing of wysigings aan bestaande bepalings vir
skarefinansieringstransaksies vereis word en of die bestaande bepalings in Suid-Afrika
voldoende is. Die hooffokus is vanuit ’n belastingperspektief, maar ander toepaslike
bestaande wetlike vereistes, soos die Maatskappywet wat ’n invloed op
belastingwetgewing het, is ook in ag geneem. ’n Ondersoekende gemengde metode
benadering is gevolg deur ’n literatuurstudie en onderhoude te onderneem, asook deur
resultate vanaf ’n opname-instrument te verkry. Die mikpunt van die studie was om
ondersteuning te verleen aan die ontwikkeling en vestiging van ’n duidelike raamwerk vir
die Suid-Afrikaanse skarefinansieringsbedryf. Daar word voorgestel dat ’n enkele
belastingkrediet vir befondsers ingestel word om skarefinansiering te akkommodeer wat
onderneem word om klein ondernemings te ondersteun.
Ukuqongelela imali enanini elikhulu labantu lapho emunye enikela ngemali encane,
ngokwejwayelekile nge-inthanethi yithuluzi elisha elisetshenziswa ngabantu abasungula
amabhizinisi, bethatha ubungozi bezezimali ngethemba lenzuzo kanye namabhizinisi
amancane ukuthola imali evela kweminye imithombo ngaphandle kwezinsizakalo
zezezimali kanye nemboni yasebhange. Kungelinye lamathuluzi athembisa kakhulu
ukunika amandla ekukhuliseni komnotho, ukuvulwa kwamathuba emisebenzi kanye
nokusungula izinto ezintsha ngokunikezela ngemali ebantwini abasungula amabhizinisi,
bethatha ubungozi bezezimali ngethemba lenzuzo kanye namabhizinisi amancane.
Ukuqongelela imali enanini elikhulu labantu lapho emunye enikela ngemali encane,
ngokwejwayelekile nge-inthanethi kubhekisa endleleni yokuqongelela imali
ngokusebenzisa imithombo yezokuxhumana kanye nokusetshenziswa kwezingosi
zokuxhumana ezisuselwa ku-inthanethi ukuze uhlale uxhumekile nabantu. Izifanekiso
eziyinhloko zokuqongelela imali enanini elikhulu labantu lapho emunye enikela ngemali
encane, ngokwejwayelekile nge-inthanethi ezihlonziwe (ezihlukaniswe ngesisekelo
sohlobo lwenzuzo etholakele kushintshaniswa nezimali ezinikeziwe) yizifanekiso
zomnikelo, isifanekiso semiklomelo, isifanekiso sesikweletu kanye nesifanekiso
sokulingana. Njengoba njengamanje kungekho zinhlinzeko ezithile zomthetho wentela
eNingizimu Afrika zokuthengiselana kwemali eqongelelwe enanini elikhulu labantu lapho
emunye enikela ngemali encane, ngokwejwayelekile nge-inthanethi, imiphumela yentela
yokuthengiselana kwemali eqongelelwe enanini elikhulu labantu lapho emunye enikela
ngemali encane, ngokwejwayelekile nge-inthanethi, iwela ngaphansi kwemigomo yentela
jikelele Yomthetho Wentela Yemali Engenayo. Ukuphathwa kwentela yezifanekiso
zokuqongelela imali enanini elikhulu labantu lapho emunye enikela ngemali encane,
ngokwejwayelekile nge-inthanethi akuhlali kuqinisekile ngaso sonke isikhathi. Inhloso
enkulu yalolu cwaningo bekungukuthola ukuthi ngabe umthetho othile noma izichibiyelo
ezihlinzekiwe ezikhona ziyadingeka yini ekuqongeleleni imali enanini elikhulu labantu
lapho emunye enikela ngemali encane, ngokwejwayelekile nge-inthanethi noma ngabe
amalungiselelo akhona anele yini eNingizimu Afrika. Ukugxila okuyinhloko kususelwa
embonweni wentela kodwa ezinye izidingo ezifanele zomthetho ezifana noMthetho
Wezinkampani onomthelela emithethweni yentela nazo zibhekiwe. Indlela ehlangene
yokuhlola ilandelwe ngokwenza ucwaningo lwezincwadi kanye nezingxoxo kanye
nokuthola imiphumela ethuluzini lokuhlola. Lolu cwaningo luhlose ukusiza ekwakheni
nasekusunguleni uhlaka olwehlukile lomkhakha wezimboni zaseNingizimu Afrika
zokuqongelela imali enanini elikhulu labantu lapho emunye enikela ngemali encane,
ngokwejwayelekile nge-inthanethi. Kuphakanyiswa ukuthi kwethulwe isikweletu esisodwa
sentela kubaxhasi bezimali ukubhekela ukuqongelela imali enanini elikhulu labantu lapho
emunye enikela ngemali encane, ngokwejwayelekile nge-inthanethi kwenziwe ukuxhasa
osomabhizinisi abancane.
