Distribution Announcement – SMART
CoreShares Index Tracker Managers (RF) Proprietary Limited
Coreshares SciBeta Multifactor ETF
Share Code:SMART
ISIN:ZAE000269502
A portfolio in the CoreShares Index Tracker Collective Investment Scheme registered as such in terms of the Collective Investment Schemes Control Act, 45 of
2002, managed by CoreShares Index Tracker Managers (RF) Proprietary Limited.
DISTRIBUTION ANNOUNCEMENT
Holders of the security are advised that a distribution will be made in respect of the three months ended 30 June 2022.
The following dates are of importance with regards to the distribution
Last day to trade cum distribution: Tuesday, 12 July 2022
Ex-date: Wednesday, 13 July 2022
Record date: Friday, 15 July 2022
Payment date: Monday, 18 July 2022
An aggregated amount of 68.75000 cents per security is declared.
The nature and source of the distribution is explained in the following table:
SMART Dividend Dividend Dividend (64N > DTA) Tax Reclaim Interest REIT TOTAL
Source Local Foreign SA Listed Foreign SA Listed Foreign SA Listed Local Local
Net Distribution Reinvested No No No No No No
Source of Funds (Country Code) ZA Table 1 BE BE ZA ZA
Subject to Foreign Withholding tax No No Yes No No No
Gross Foreign Rate (cents per unit) 32.40323 0.43308 0.28331
Foreign Tax % withheld at source 30.00%
Foreign Tax amount per unit 0.12992
DTA with Source Country Table 1 15.00%
Foreign Tax Reclaim % 15.00%
Portfolio/Management Cost 0.02616
Interest Expense
Other Costs
Gross ZA Distribution (Cents per unit) 30.97557 32.40323 0.27700 0.28331 0.64237 4.16852 68.75000
Applicable to non-exempt South African Shareholders
Gross Local Rate (cents per unit) 30.97557 32.40323 0.40692 0.28331 0.64237 4.16852
SA Withholding Tax % 20.00% 20.00% 5.00%
SA Withholding Tax amount per unit 6.19511 6.48065 0.02035
Local Net Rate 24.78046 25.92258 0.25665 0.28331 0.64237 4.16852 56.05389
The net rate for Local REIT distributions for non-residents after SA withholding tax is 3.33482
Table 1
Foreign tax % witheld at SA witholding
Country ISO Code Split source DTA with source country tax
Australia AU 93.32696% 0% 15% 20%
Great Britain GB 6.67304% 0% 15% 20%
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 Central Securities Depository Participant (CSDP) or broker with the following:
a) a declaration that the distribution is exempt from dividends tax; and
b) a written undertaking to inform their CSDP or broker, 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, to arrange for the abovementioned
documents to be submitted prior to payment of the distribution, if such documents have not already been submitted.
Distributions by Real Estate Investment Trusts (REITs) are subject to income tax for South African tax residents and for non-residents it is subject to 20% SA withholding tax.
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.
Withholding Tax on Interest (WTI) came into effect on 1 March 2015.
Investors are advised that to the extent that the distribution amount comprises 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.
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 in respect
of its participatory interest:
a) a declaration that the dividend is subject to a reduced rate because of the application of a DTA; and
b) a written undertaking to inform the CSDP or broker 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 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.
Date of announcement: 07 July 2022
Sponsor : Grindrod Bank Limited
Date: 07-07-2022 08:30:00
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Distribution Announcement – SMART – SENS
