Income received by way of distributions is taxed in the hands of the investor. Income distributions comprise mainly actual dividends declared by the underlying constituents held in the portfolio. The dividends received by the portfolio are subject to dividends withholding tax at a South African rate of 20% for taxpayers that are not exempt in terms of the Income Tax Act. The dividends withholding tax will be deducted by the final regulated intermediary and paid over to SARS. Therefore distributions will be received by the investor net of dividends withholding tax.Distibutions also include interest and scrip lending income (if applicable), which will be taxed as normal income in the hands of the investor. Holders of Satrix securities will incur a Capital Gains Tax (CGT) liability on any capital gain realised at the time of sale.
Transaction Fees Debit order fee: R0 Stock brokerage fees: 0.08% Nominal Strate and Investor Protection levies will also be charged All fees quoted are exclusive of VAT. VAT will be levied where applicable. Investment Plan Administration Fees (for both lump sums and debit order investments) Annual administration fee: (calculated daily and deducted quarterly) Total Investment Per FundFee R0 to R500 0000.60% R500 000 to R1 000 0000.45% R1 000 000 or more0.35% Transaction Fees Debit order fee: R0 Stock brokerage fees: 0.08% (buying and selling) Nominal Strate and Investor Protection levies will also be charged. Where a financial adviser is used, commissions will be charged (as scheduled in Section 8). All fees quoted are exclusive of VAT. VAT will be levied where applicable
Yes.An investor can exchange, in the primary market, a minimum 1 million Satrix securities (and thereafter only in tranches of 1 million Satrix securities) for a proportional number of shares in the companies comprising the relevant index known as a redemption is specie. An investor can also deliver the underlying shares in exchange for Satrix securities know as a creation in specie(the underlying constituents of the portfolios and their weightings are displayed on the Satrix website daily).