SEO Version
ANNUAL REPORT 2011
distributions to such Unitholders without deducting any income tax; or
(ii)
where the benefcial owners are Qualifying Foreign Non-Individual Unitholders, the Trust
deduct Singapore income tax at the reduced rate of 10% for distributions made up to
concession is extended.
A Qualifying Unitholder is a Unitholder who is:
•
A Singapore-incorporated company which is a tax resident in Singapore;
•
A body of persons, other than a company or a partnership, registered or constituted in
a town council, a statutory board, a registered charity, a registered co-operative so
union, a management corporation, a club and a trade and industry association); and
•
A Singapore branch of a foreign company which has presented a letter of approval fr
waiver from tax deduction at source in respect of distributions from the Trust.
A Qualifying Foreign Non-Individual Unitholder is one who is not a resident of Singapore for inc
•
who does not have a permanent establishment in Singapore; or
•
who carries on any operation in Singapore through a permanent establishment in Sin
used to acquire the units are not obtained from that operation in Singapore.
The above tax transparency ruling does not apply to gains or profts from sale of real estate pro
be trading gains derived from a trade or business carried on by the Trust. Tax on such gains or
in accordance to section 10(1)(a) of the Income Tax Act, Chapter 134 and collected from the T
or profts are capital gains, they are not subject to tax and the Trustee and the Manager may di
without tax being deducted at source.
(l)
Distribution policy
The Group’s distribution policy is to distribute at least 90% of its distributable income. Distributi
a quarterly basis, no later than 90 days after the end of the distribution period.
The Group will distribute 100% of its distributable income for the period ended 31 Decembe
31 December 2012.
(m) Earnings per Unit
The Group presents basic and diluted earnings per Unit (“EPU”) data for its Units. Basic EPU i
the total return attributable to Unitholders of the Group by the weighted average number of or
during the period. Diluted EPU is determined by adjusting the total return attributable to Unith
average number of Units outstanding for the effects of all dilutive potential Units.
Sabana AR 2011 Financial V9.indd 85
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