Distribution and Re-Investment Announcement for the Quarter Ended 30 September 2020 - GIVISA
NEWFUNDS S&P GIVI SA TOP 50 INDEX ETF PORTFOLIO
Share code: GIVISA
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)
DISTRIBUTION ANNOUNCEMENT FOR THE QUARTER ENDED 30 SEPTEMBER 2020
NewFunds has today finalised a distribution to holders of ETF securities ("investors") recorded as such in the register on Friday, 23 October 2020, for the quarter
ended 30 September 2020 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 0,04754 No 0,04754
Dividend Local 5,60746 Yes 20 4,48597
Dividend Foreign1 23,23816 Yes 20 18,59053
Dividend Foreign² (CFR)***S64N 1,69318 No 1,69318
Dividend REITS** 0,95083 Yes 20 0,76066
Further details are listed below:
¹Source of foreign dividends subject to SA dividend tax:
United Kingdom 99,997%
²Source of foreign dividends not subject to SA dividend tax:
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 September 2020:
Declaration/ Finalisation date Thursday, 15 October 2020
Last day to trade Tuesday, 20 October 2020
Ex distribution Wednesday, 21 October 2020
Record date Friday, 23 October 2020
Payment date Monday, 26 October 2020
The distribution will be paid on Monday, 26 October 2020 to all securities holders recorded on the register on Friday, 23 October 2020.
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.
NET FOREIGN DIVIDEND NOT TAXED
(S64N rebate) CFR
Gross Dividend 2,87119
Foreign Dividends Withholding Tax (1,00492)
Less Porfolio costs (0,17309)
Distributable dividend 1,69318
SA Dividend Withholding Tax
Gross Dividend 2,87119
Less Portfolio Costs (0,17309)
SA DWT 0,53962
SA tax 0.540 cents (20%) will not be deducted as foreign dividend withholding tax 35% of the gross dividend has already been deducted (SECTION 64N of the Income Tax Act)
***Compagnie Financiere Richemont SA is a Switzerland listed Company. The dividends received have been subject to 35% withholding tax.
*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
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
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.
GIVISA 2 057 255 9180010184
15 October 2020
Date: 15-10-2020 08:00:00
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