Eligible Unitholders are:

1. Individuals holding FCT Units through a Depository Agent who have received taxable income distributions after withholding tax deduction instead of at gross;
2. Non-resident non-individuals² whose FCT Units are held through a Depository Agent or in their own name and who have received taxable income distributions after withholding tax deduction at the prevailing corporate tax rate instead of 10%. The 10% withholding tax rate is applicable only in respect of taxable income distributions made during the period from 29 April 2020 to 31 December 2025; and
3. Exempt non-corporate Unitholders holding FCT Units through a Depository Agent or in their own name who have received taxable income distributions after withholding tax deduction instead of at gross.

For other categories of Unitholders, they will need to claim a refund of the withholding tax over-deducted, if any, when filing their Singapore tax return.

1. If you are a qualifying non-resident non-individual or an exempt non-corporate Unitholder holding FCT Units in your own name,
   1. download and complete Form R1. Use a separate Form R1 for each income distribution period.
   2. submit the duly completed Form R1, accompanied by the Subsidiary Income Tax Certificate ("SITC") or the Account Statement/ Annual Dividend Statement ("ADS") issued by The Central Depository (Pte) Limited ("CDP") which reflects the distribution in respect of the claim for tax refund being made, to:

      Boardroom Corporate & Advisory Services Pte. Ltd.
      1 HarbourFront Ave
      #14-07 Keppel Bay Tower
      Singapore 098632

2. If you are an individual, a qualifying non-resident non-individual or an exempt non-corporate Unitholder and you hold FCT Units through Depository Agents, please liaise with your Depository Agent on your claim for tax refund. The claim will be made on your behalf by your Depository Agent.
3. If you are a Depository Agent and wish to make a claim on behalf of beneficial owners who are individuals, qualifying non-resident non-individuals or exempt non-corporates,
   1. download and complete Form R2, including Annexes 1 to 3. Use a separate Form R2 for each income distribution period.
   2. submit the duly completed Form R2, accompanied by the SITC issued for the distribution in respect of the claim for tax refund being made, to:

      Boardroom Corporate & Advisory Services Pte. Ltd.
      1 HarbourFront Ave
      #14-07 Keppel Bay Tower
      Singapore 098632

   3. Email a soft copy of the completed Annexes to Boardroom Corporate & Advisory Services Pte. Ltd. at the following email address: srs.teama@boardroomlimited.com.

Yes, ID numbers such as Singapore NRIC number, passport number or foreign ID numbers are required for individuals who hold their FCT Units through Depository Agents.

You may submit the Forms and the accompanying SITCs or CDP Account Statement/ ADS to Boardroom Corporate & Advisory Services Pte. Ltd. at any time.

The Trustee of FCT will collate the claims for tax refund submitted by Unitholders and the Depository Agents, and upon receipt of the complete set of documents, make a claim for tax refund to the IRAS on a half-yearly basis (in 15 June and 15 December). For example, all Forms received during the period ending 15 June are expected to be submitted to the IRAS in June in the same year while those received during the period ending 15 December are expected to be submitted to the IRAS in December in the same year. Please use a separate form for each income distribution period.

However, the Trustee reserves the right to end the half yearly tax refund process if it is deemed to be no longer necessary (e.g. change in legislation) with advance notice.

Every claim of refund must be made to the IRAS within 4 years from the end of the year of assessment to which the claim relates. For example, for claim of refund in respect of distributions made by FCT for the period from 1 October 2020 to 31 March 2021 (which relates to the year of assessment 2022), the claim must be submitted to the IRAS on or before 31 December 2026. Unitholders and the Depository Agents must ensure that the relevant Forms are submitted on a timely basis to allow the Trustee of FCT to make the refund claim within the prescribed time limit. The IRAS will not process any claim that has exceeded the 4-year time frame.

The tax refund will be paid out to eligible Unitholders/ Depository Agents, subject to approval by the IRAS and upon receipt of the tax refund from the IRAS by the Trustee of FCT. For Depository Agents, you can then proceed to make tax refunds to your respective beneficial owners.

The unit registrar will issue a letter together with the cheque for the refund amount to the Unitholders. This letter will serve as evidence that the tax refunds have been made.