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Distribution Announcement For The Quarter Ended 31 March 2022 - NEWPRP
NEWFUNDS REITWAY GLOBAL PROPERTY EXCHANGE TRADED FUND
Share code: NEWPRP
ISIN: ZAE000296752
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 31 MARCH 2022
NewFunds has today finalised a distribution to holders of ETF securities ("investors") recorded as such in the register on Friday, 25 April 2022, for the quarter ended 31 March 2022 as follows:
Alpha Code: NEWPRP Dividend *Interest Total
Distribution Source type Foreign Not SA Listed Local
Net Distribution Reinvested No No
Source of Funds (Country Code) Table 1 - ISO Code ZA
Subject to Foreign Withholding tax Yes No
Gross Foreign Rate (cents per unit) 254,58707
Foreign Tax % withheld at source* 17,94885%
Foreign Tax amount per unit 45,69546
DTA with Source Country Table 1
Foreign Tax Reclaim %
Portfolio/Management Cost 55,54336
Interest Expense
Other costs
Gross ZA Distribution (Cents per unit) 153,34826 0,23370 153,58195
***Applicable to non-exempt South African shareholders
Gross Local Rate (cents per unit) 153,34826 0,23370
SA Withholding Tax %
SA Withholding Tax amount per unit
Local Net Rate 153,34826 0,23370 153,58195
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 March 2022:
Declaration/ Finalisation date Thursday, 14 April 2022
Last day to trade “cum” distribution Monday, 25 April 2022
Securities trade “ex” distribution Tuesday, 26 April 2022
Record date Friday, 29 April 2022
Payment date Tuesday, 3 May 2022
The distribution will be paid on Tuesday, 3 May 2022 to all securities holders recorded on the register on Friday, 29 April 2022.
*Table 1
Country ISO Code Split DTA Rate
Australia AU 24% 15%
Canada CA 2% 15%
United Kingdom GB 11% 10%
Japan JP 3% 15%
United Stated US 56% 15%
Norway NO 1% 15%
Singapore SGD 4% 15%
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:
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 securities reference
in issue number
NEWPRP 1 531 342 -
Thursday, 14 April 2022
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Date: 14-04-2022 03:00:00
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