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Distribution Announcement for the Quarter Ended 31 December 2020 - GIVISA
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)
DISTRIBUTION ANNOUNCEMENT FOR THE QUARTER ENDED 31 DECEMBER 2020
NewFunds has today finalised a distribution to holders of ETF securities ("investors") recorded as such in the register on Friday, 22 January 2021, for the quarter
ended 31 December 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 0,08292 No 0,08292
Dividend Local 6,03262 Yes 20 4,82610
Dividend Foreign1 5,62831 Yes 20 4,50265
Dividend Foreign² (CFR)***S64N 0,50785 No 0,50785
Dividend Foreign² (PRX)***S64N 0,34154 No 0,34154
Dividend REITS** 1,85537 Yes 20 1,48430
14,44861 11,74536
Further details are listed below:
¹Source of foreign dividends subject to SA dividend tax:
United Kingdom 100,000%
²Source of foreign dividends not subject to SA dividend tax:
Netherlands 40,21%
Switzerland 59,79%
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 2020:
Declaration/ Finalisation date Thursday, 14 January 2021
Last day to trade “cum” distribution Tuesday, 19 January 2021
Securities trade “ex” distribution Wednesday, 20 January 2021
Record date Friday, 22 January 2021
Payment date Monday, 25 January 2021
The distribution will be paid on Monday, 25 January 2021 to all securities holders recorded on the register on Friday, 22 January 2021.
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 PRX
Gross Dividend 0,95272 0,48997
Foreign Dividends Withholding Tax (0,33345) (0,07350)
0,61927 0,41647
Less Porfolio costs (0,11142) (0,07493)
Distributable dividend 0,50785 0,34154
SA Dividend Withholding Tax
Gross Dividend 0,95272 0,48997
Less Portfolio Costs (0,11142) (0,07493)
0,84130 0,41504
SA DWT 0,16826 0,08301
SA tax 0.168 cents and 0.083 cents (20%) will not be deducted as foreign dividend withholding tax 35% and 15%, respectively, 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.
***Prosus NV is a Netherlands listed Company. The dividends received have been subject to 15% 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
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 reference
securities number
in issue
GIVISA 2 057 255 9180010184
14 January 2021
Sponsor
Vunani Sponsors
Date: 14-01-2021 08:00:00
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