reit dividend tax south africa

Sunday, October 23, 2022 Edit

Alternatively such income may be vested in. The REIT regime in South Africa aims to create a flow though vehicle for income tax purposes.

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Taxation of investors South African resident natural persons A South African tax resident natural person investing in a REIT will be subject to income tax on dividends received by or accrued.

. March 2 2015. A fundamental part of the regime relates to the ability of the REIT and its. To qualify as a REIT the company must have at least 90 of its taxable income distributed to shareholders annually in the form of dividends.

The definition of a REIT in the Income Tax Act refers to. Foreign natural persons and trusts. Dividends received by a South African taxpayer are generally exempt from income tax.

The Real Estate Investment Trust REIT tax regime in South Africa was addressed for general review in Annexure C. Dividends are still subject to the dividends tax which is a tax levied at 20 of dividends received and are taxed in the hands of the recipient taxpayer. Interest distributions by a REIT or a controlled property company payable to South African resident investors are recharacterised as taxable dividends ie the normal tax.

The major exemption though being dividends received from so-called REITs these being some of the. These distributions are however exempt from dividend withholding tax in the. Such person will however be exempt from dividends tax in.

By a non-resident from a REIT will be subject to dividend withholding tax at 20 unless. The tax also operates. Foreign shareholders of SA REITs are levied a dividend withholding post tax at the current rate of 20 but this can be reduced in terms of the rates set by the applicable double.

Dividends received by individuals from South African companies are generally exempt from income tax but dividends tax at a rate of 20 is withheld by the entities paying. REIT Dividends received by South African tax residents must be included in their gross income and will not be exempt from income tax in terms of the exclusion to the general. Dividends Tax is a tax imposedat 15 on shareholders on the receipt of dividends from companies and under normal circumstances is withheld from their dividend payment.

2 days agoThe dividend amount net of South African dividend tax of 20 is 2970811 cents per share for those shareholders who are not exempt from dividend withholding tax or are not. 2 days ago31 August 2022. A REIT is a company as defined for income tax purposes that owns and operates income-producing immovable property.

The trust or if relevant the beneficiary of the trust will however be exempt from dividends tax in respect of such dividend. The REIT can then deduct all of. The dividend amount net of South African dividend tax of 20 is.

Section 25BB of the Income Tax Act was adopted in South Africa with effect from 1 April 2013 to govern the taxation of real estate investment trusts REITs. A South African trust investing in a REIT would be liable to income tax in respect of dividends received or accrued from a REIT at a rate of 40. Dividends distributed by a REIT with the effect that the distribution is taxable in the hands of the unitholder.

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