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Distribution And Re-Investment Announcement For The Quarter Ended 31 December 2022
NEWFUNDS MAPPS GROWTH INDEX ETF PORTFOLIO
Share code: MAPPSG
ISIN: ZAE000153763
Portfolios in the NewFunds Collective Investment Scheme in Securities registered as such in terms of the Collective Investment Schemes Control Act, 45 of 2002 and managed by NewFunds (RF)
Proprietary Limited (Registration Number 2005/034899/07) ("NewFunds")
DISTRIBUTION AND RE-INVESTMENT ANNOUNCEMENT FOR THE QUARTER ENDED 31 DECEMBER 2022
NewFunds has today finalised a distribution to holders
NewFunds has today finalised a distribution to holders of ETF securities ("investors") recorded as such in the register on Friday, 27 January 2023, for the quarter ended 31 December 2022 as follows:
Alpha Code: MAPPSG Dividend Dividend *Interest REIT Total
Distribution Source type Local Foreign SA Listed Local Local
Net Distribution Reinvested Yes Yes Yes Yes
Source of Funds (Country Code) ZA GB ZA ZA
Subject to Foreign Withholding tax No No No No
Gross Foreign Rate (cents per unit) 1,47337
Foreign Tax % withheld at source
Foreign Tax amount per unit
DTA with Source Country
Foreign Tax Reclaim %
Portfolio/Management Cost
Interest Expense
Other costs
Gross ZA Distribution (Cents per unit) 8,41106 1,47337 9,04948 0,86051 19,79441
***Applicable to non-exempt South African shareholders
Gross Local Rate (cents per unit) 8,41106 1,47337 9,04948 0,86051
SA Withholding Tax % 20% 20% Note 1
SA Withholding Tax amount per unit 1,68221 0,29467
Local Net Rate 6,72885 1,17870 9,04948 0,86051 17,81754
Note 1
Distributions by Real Estate Investment Trusts (REITs) are subject to income tax for South African tax residents and for non-residents it is subject to 20% SA withholding tax. The Gross rate for non-
residents is 0.86051 and the net rate is 0.68840 cents per unit.
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 2022:
Declaration/ Finalisation date Thursday, 19 January 2023
Last day to trade “cum” distribution Tuesday, 24 January 2023
Securities trade “ex” distribution Wednesday, 25 January 2023
Record date Friday, 27 January 2023
Payment date Monday, 30 January 2023
The distribution will be paid on Monday, 30 January 2023 to all securities holders recorded on the register on Friday, 27 January 2023.
In accordance with the investment policy of the portfolio, the distribution (net of dividend withholding tax as detailed above) will be re-invested on behalf of investors through the purchase of securities
comprising the Index in accordance with the calculation methodology of the total return version of this Index, thereby increasing the net asset value of the portfolio and, proportionately, each ETF
security.
The distribution (Net of dividend withholding tax) should:
- be added to the base cost of each ETF security for capital gains tax purposes; or
- where the ETF securities are held as trading stock be regarded as part of the cost of acquiring an ETF security.
Reinvestments into the portfolio still constitute a notional distribution even though it will not be paid in cash. Consequently, it forms part of investors' gross income as it is subject to tax.
Investors qualifying for exemption from DWT or a reduced rate of DWT per Double Tax Agreement ("DTA"), will receive, in cash, a distribution amount of the applicable DWT, provided they have
completed and timeously lodged with the relevant intermediary the prescribed declaration and undertaking form.
Failure to do so will result in the dividends tax being withheld in full.
*Investors should seek advice from their tax advisor on whether the tax rate shown is applicable to them.
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 Government debt, listed debt instruments
and/or bank debt.
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.
Additional information:
Number Tax
of securities reference
in issue number
MAPPSG 1 806 698 9020590221
Thursday, 19 January 2023
JSE Sponsor
Vunani Capital Sponsors
Date: 19-01-2023 09:00:00
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