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Distribution - Dividends Tax implications
HYPROP INVESTMENTS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1987/005284/06)
JSE share code: HYP ISIN: ZAE000003430
(Approved as a REIT by the JSE)
(“Hyprop” or “the company”)
DISTRIBUTION – DIVIDENDS TAX IMPLICATIONS
Combined unitholders are referred to Hyprop’s unaudited interim results announcement for the six months
ended 31 December 2013, published on SENS on Friday, 21 February 2014, in which unitholders were
notified of a distribution payment of 231 cents per Hyprop combined unit to be paid on Monday, 31 March
2014 (“the distribution”). Combined unitholders are further referred to the announcement published on
SENS on 21 February 2014 in which Hyprop detailed the tax treatment of the distribution.
South African tax resident combined unitholders are again advised that the distribution must be included in
their gross income and will not be exempt from income tax (in terms of the exclusion to the general dividend
exemption, contained in paragraph (aa) of section 10(1)(k)(i) of the Income Tax Act 58 of 1962) because the
distribution is a dividend distributed by a REIT. The distribution will however be exempt from dividend
withholding tax in the hands of South African tax resident combined unitholders provided that they
have completed and returned the appropriate declaration to their Central Securities Depository
Participant (“CSDP”) or broker, as the case may be, in respect of uncertificated combined units or
certificated combined units before the distribution is made.
Hyprop unitholders are advised to contact their CSDP or broker as a matter of urgency and in any event by
no later than 28 March 2014 to arrange for the submission of the relevant exemption declaration (if such
documents have not already been submitted) so as to avoid the CSDP withholding 15% of the distribution
amount and remitting it to SARS on behalf of the unitholder.
17 March 2014
Sponsor
Java Capital
Date: 17/03/2014 04:06:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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