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DISTRIBUTION ANNOUNCEMENT FOR THE QUARTER ENDED 30 SEPTEMBER 2020 - NFSH40
NEWFUNDS SHARIAH TOP 40 SA INDEX ETF PORTFOLIO
Share code: NFSH40
ISIN: ZAE000130431
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 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)
NFSH40 Dividend Local 1.31123 Yes 20 1.04898
Dividend Foreign1 2.42513 Yes 20 1.94010
Dividend Foreign² (CFR)***S64 0.59996 No 0.59996
4.33632 3.58904
Further details are listed below:
¹Source of foreign dividends subject to SA dividend tax:
United Kingdom 99.986%
Netherlands 0.014%
²Source of foreign dividends not subject to SA dividend tax:
Switzerland 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 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.
NET FOREIGN DIVIDEND NOT TAXED (S64N
CFR
Gross Dividend 0.99502
Foreign Dividends Withholding Tax (0.34826)
0.64676
Less Porfolio costs (0.04680)
Distributable dividend 0.59996
SA Dividend Withholding Tax
Gross Dividend 0.99502
Less Portfolio Costs (0.04680)
0.94822
SA DWT 0.18964
SA tax 0.19 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 listed debt instruments
and/or bank debt.
Holders of Shariah ETF securities
Holders of Shariah ETF securities (“investors”) are advised that the appropriate purification of dividends, through the donation of 5% of the dividends to charity, needs to be effected by each
investor. Absa Islamic Banking's Shari'ah Supervisory Board (''SSB'') has provided the following list of approved charitable institutions. The list is not exhaustive and it is therefore not obligatory
to use one of the specified charities:
1. Al Furqaan Orphanage (Gauteng)
2. Gift of the Givers (RSA)
3. SANZAF (RSA)
4. Africa Muslims Agency (RSA)
5. Al-Imdaad Foundation
6. Muslim Hands (RSA)
7. Islamic Relief Agency (RSA)
8. Bait-ul-Khair (Gauteng)
9. TIBA Services for the Blind (Gauteng)
10. Mustadafin Foundation (www.mustadafin.com)
*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
Additional information:
Number Tax
of securities reference
in issue number
NFSH40 15,575,446 9403872162
15 October 2020
Sponsor
Vunani Sponsors
Date: 15-10-2020 08:55:00
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