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NEWFUNDS COLLECTIVE INVEST SCHEME - Distribution Announcement for the Quarter Ended 31 March 2019 - GIVFIN

Release Date: 18/07/2019 17:15
Code(s): GIVFIN     PDF:  
Wrap Text
Distribution Announcement for the Quarter Ended 31 March 2019 - GIVFIN

NEWFUNDS S&P GIVI SA FINANCIALS INDEX ETF PORTFOLIO
Share code: GIVFIN
ISIN: ZAE000205258

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 ANNOUNCEMENT FOR THE QUARTER ENDED 30 JUNE 2019
NewFunds has today finalised a distribution to holders of ETF securities ("investors") recorded as such in the register on Friday, 26 July 2019, for the quarter ended 30 June 2019 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)

GIVFIN                     Interest                     Local                   0.51663                  No                                            0.51663
                           Dividend                     REITs**                 28.98053                 Yes                       20                  23.18442
                           Dividend                            1                12.45786                 Yes                       20                  9.96629
                                                        Foreign
                           Dividend                     Foreign (ITU)*** (S64N) 1.29837                  No                                            1.29837
                           Dividend                     Foreign (RPL)*** (S64N)0.03001                   No                                            0.03001
                                                                                43.2834                                                                34.99572


Further details are listed below:
1
  Source of monetary funds subject to foreign dividend tax:
United Kingdom                                                                                                            28.47%
Netherlands                                                                                                               71.53%

***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 30 June 2019:

Declaration/ Finalisation date                                                   Thursday, 18 July 2019
Last day to trade                                                                Tuesday, 23 July 2019
Ex distribution                                                                  Wednesday, 24 July 2019
Record date                                                                      Friday, 26 July 2019
Payment date                                                                     Monday, 29 July 2019

The distribution will be paid on Monday, 29 July 2019 to all securities holders recorded on the register on Friday, 26 July 2019.

  NET FOREIGN DIVIDEND NOT TAXED (S64N                             ITU                    RPL
Gross Dividend        rebate)                                          1.73582                0.04012
Foreign Dividends Withholding Tax                                    (0.34716)               (0.00802)
                                                                       1.38866                0.03210
Less Porfolio costs                                                  (0.09029)               (0.00209)
Distributable dividend                                                 1.29837                0.03001

SA Dividend Withholding Tax
Gross Dividend                                                         1.73582                0.04012
Less Portfolio Costs                                                 (0.09029)               (0.00802)
                                                                       1.64553                0.03210
SA DWT                                                                 0.32911                0.00642

SA tax 0.34 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.
***INTU Properties Plc and RDI Reit Plc are United Kingdom listed Companies. The dividends received have been subject to 20% withholding tax.

*Investors should seek advice from their tax advisor on whether the tax rate shown is applicable to them.

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.
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

GIVFIN                           1 322 216               9181003188

18 July 2019

Sponsor
Vunani Corporate Finance

Date: 18/07/2019 05:15:00
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