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NEWFUNDS COLLECTIVE INVEST SCHEME - GIVISA - Distribution for the quarter ended 31 December 2018

Release Date: 17/01/2019 10:56
Code(s): GIVISA     PDF:  
Wrap Text
GIVISA - Distribution for the quarter ended 31 December 2018

NEWFUNDS S&P GIVI SA TOP 50 INDEX ETF PORTFOLIO
Share code: GIVISA
ISIN: ZAE000205225


Portfolios in the NewFunds (RF) Proprietary Limited Collective Investment Scheme in Securities registered as such in terms of the Collective Investment Schemes
Control Act, 45 of 2002 and managed by NewFunds Proprietary Limited. (Registration Number 2005/034899/07) ("NewFunds")


DISTRIBUTION ANNOUNCEMENT FOR THE QUARTER ENDED 31 DECEMER 2018
NewFunds has today finalised a distribution to holders of ETF securities ("investors") recorded as such in the register on Friday, 25 January 2019, for the quarter
ended 31 December 2018 as follows:

Alpha code                 Dividend/                   Foreign/                Gross                  Subject to Withholding    *Withholding       Net
                           Interest                    Local                   Distribution           tax                        Tax (%)           Distribution
                                                                               (Cents per unit)       Yes/ No                                      (Cents per unit)

GIVISA                     Interest                    Local                  0.30670                 No                                           0.30670
                           Dividend                    Local                  8.19489                 Yes                       20                 6.55591
                           Dividend                                           1.34748
                                                       Foreign (ITU)*** [S664N]                       No                                           1.34748
                           Dividend                    Foreign(1)               11.40255                Yes                       20                 9.12204
                           Dividend                    REITs**                2.35269                 Yes                       20                 1.88215
                                                                              23.60431                                                             19.21428


Further details are listed below:
(1)  Source of monetary funds subject to foreign dividend tax:
United Kingdom                                                                                                        100.00%

***Source of foreign dividends not subject to dividend tax:
United Kingdom                                                                                                        100.00%


Notice is hereby given that the following dates are of importance in regard to the distribution by the above ETF for the quarter ended 31 December 2018:

Declaration/ Finalisation date                                                 Thursday, 17 January 2019
Last day to trade                                                              Tuesday, 22 January 2019
Ex distribution                                                                Wednesday, 23 January 2019
Record date                                                                    Friday, 25 January 2019
Payment date                                                                   Monday, 28 January 2019

The distribution will be paid on Monday, 28 January 2019 to all securities holders recorded on the register on Friday, 25 January 2019.

NET FOREIGN DIVIDEND NOT TAXED (S64N rebate)

Gross Dividend                                                      1.87597
Foreign Dividends Withholding Tax                                  (0.37519)
                                                                    1.50078
Less Porfolio costs                                                (0.15330)
Distributable dividend                                              1.34748

SA Dividend
Gross Dividend
Withholding Tax                                                     1.87597
Less Portfolio Costs                                               (0.15330)
                                                                    1.72267
SA DWT                                                              0.34453

SA tax 0.345 cents (20%) will not be deducted as foreign dividend withholding tax has already been deducted (SECTION 64N)

Withholding Tax on Interest (WTI) came into effect on 1 March 2015.

Interest accruing from a South African source to a non-resident, excluding a controlled foreign company, will be subject to withholding tax at a rate of 15% on payment, except interest,

• arising on any Government debt instrument
• arising on any listed debt instrument
• arising on any debt owed by a bank or the South African Reserve Bank
• arising from a bill of exchange or letter of credit where goods are imported into South Africa and where an authorized dealer has certified such on the instrument
• payable by a headquarter company
• accruing to a non-resident natural person who was physically present in South Africa for a period exceeding 183 days in aggregate, during that year, or carried on a business through a
permanent establishment in South Africa

Investors are advised that to the extent that the distribution amount comprise of any interest, it will not be subject to WTI by virtue of the fact that it is listed debt instruments
and/or bank debt.

*Investors should seek advice from their tax advisor on whether the tax rate shown is applicable to them.
***INTU PROPERTIES PLC is a United Kingdom listed Company. The dividends received have been subject to a 20% withholding tax.


South African tax resident investors relating to REITs
** The dividend distribution by a REIT received by South African tax residents must be included in their gross income and will not be exempt in terms of the ordinary dividend
exemption in section 10(1)(k)(i) of the Income Tax Act No. 58 of 1962 (“the Act”) as a result of paragraph (aa) of the proviso thereto which provides that dividends distributed by a
REIT are not exempt from income tax.
No dividend withholding tax will be deducted from dividends payable to a South African tax resident qualifying for exemption from dividend withholding tax provided that the
investor has provided the following forms to their Central Securities Depository Participant (“CSDP”) or broker, as the case may be in respect of its participatory interest:
a) a declaration that the distribution is exempt from dividends tax; and
b) a written undertaking to inform their CSDP or broker, as the case may be, should the circumstances affecting the exemption change or the beneficial owner cease to be the
beneficial owner,
both in the form prescribed by the South African Revenue Service. South African tax resident investors are advised to contact their CSDP or broker, as the case may be, to arrange
for the abovementioned documents to be submitted prior to payment of the distribution, if such documents have not already been submitted.

Non-resident investors for South African income tax purposes
The dividend distribution received by non-resident investors will be exempt from income tax in terms of section 10(1)(k)(i) of the Act, but will be subject to dividend withholding tax.
Dividend withholding tax is levied at a rate of 20%, unless the rate is reduced in terms of any applicable agreement for the avoidance of double taxation (“DTA”) between South
Africa and the country of residence of the non-resident investor.
A reduced dividend withholding rate in terms of the applicable DTA may only be relied on if the non-resident investor has provided the following forms to their CSDP or broker, as
the case may be in respect of its participatory interest:
a) a declaration that the dividend is subject to a reduced rate as a result of the application of a DTA; and
b) a written undertaking to inform the CSDP or broker, as the case may be, should the circumstances affecting the reduced rate change or the beneficial owner cease to be the
beneficial owner,
both in the form prescribed by the South African Revenue Service. Non-resident investors are advised to contact their CSDP or broker, as the case may be, to arrange for the
abovementioned documents to be submitted prior to the payment of the distribution if such documents have not already been submitted.

Both resident and non-resident investors are encouraged to consult their professional advisors should they be in any doubt as to the appropriate action to take.


Additional information:
                                   Number                        Tax
                                 of securities                reference
                                    in issue                   number

GIVISA                             2,057,255                  9180010184

17 January 2019

Sponsor
Absa Bank Limited (acting through its Corporate and Investment Banking division)

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