Author name: Luke

Safeguarding yourself from SARS Email scams We strongly encourage all clients to remain vigilant against SARS email scams. Some emails may appear authentic but could potentially be fraudulent. If you have any doubts or would like a second opinion, please don’t hesitate to contact your Client Manager. Here are some tips to help you spot a potential email scam: •             Check the sender’s email address: Make sure the email is actually coming from a legitimate SARS email address (e.g. “@sars.gov.za”). Be cautious of emails coming from suspicious or unfamiliar email addresses. •             Avoid clicking on links or downloading attachments: Be wary of any email that asks you to click on a link or download an attachment, especially if it prompts you to provide personal or financial information. •             Watch out for spelling and grammar errors: Scammers often make careless mistakes in their emails, such as spelling and grammatical errors. Legitimate organizations like SARS typically have professional email communications. •             Look for urgency or threats: Scammers may try to create a sense of urgency or use threats to pressure you into providing personal information or making payments. SARS would typically not use such tactics in their communications. •             Contact SARS directly: If you receive an email that you suspect may be a scam, do not respond to it. Instead, contact SARS directly through their official website or customer service hotline to verify the legitimacy of the email. By staying vigilant and following these tips, you can protect yourself from falling victim to SARS email scams. Remember, when in doubt, always err on the side of caution and verify the authenticity of any email communication before taking any action. For more information on the above, Kindly contact info@pinionza.com.

Diesel Rebates for Farmers – Do I qualify and is it worth the effort? The diesel refund system was implemented in 2000 to provide full or partial relief for the general fuel levy and the Road Accident Fund levy to the primary sectors of the economy. It was extended to the manufacturers of foodstuffs in 2023, but only for two years ending 31 March 2025. The rebate can only be claimed by “qualifying industries” when conducting “qualifying activities” using “qualifying equipment or machinery”. A farmer qualifies for 80% of his lawful use (i.e. 80% of the qualifying litres). Steps to claim a Diesel Refund: Remember to carefully review and comply with all requirements, including keeping accurate records, as incorrect refunds may need to be repaid to SARS, along with penalties and interest. The admin process and record-keeping requirements are riddled with red tape and are particularly onerous; Before applying for registration, entities must establish whether they qualify by consulting Note 6 of Part 3 of Schedule No. 6 to the Customs and Excise Act, Act No. 91 of 1964. For more information on the above, Kindly contact info@pinionza.com

Manage your Top 3 Farm Risks Farming is a risky business. With changing policies, weather events, global dynamics, and other factors beyond a farmer’s control, it feels less and less predictable each year. While market volatility has been part of agriculture for decades, today’s commodity prices react even more quickly to the influences of a world market, underscoring the need for a strong risk management strategy. As Agri business advisors, we have been on the front lines of helping producers strengthen their operations, protect their margins, and offset ag market risk. Pinion advisors share how to manage your top three farm risks: profitability, market risks and cash flow. One of the most important criteria for making marketing decisions is knowing profitability. “The producer who markets without a good handle on this type of data is more likely to make risk management decisions “reactively” based on emotion, and less likely to make “proactive” decisions based on profitability, which is the real goal of good risk management,” says Eric Osterhaus, Pinion ag marketing strategist. Pinion Pro Tip: Work with a strategic advisor to identify your costs of production, break-evens, and production estimates – the primary drivers in a good marketing plan. The impacts of geopolitical activity, rising input costs, and extreme weather point to volatility ahead, so it’s critical to understand how factors like this could affect your operation. “What if you can’t get the parts or supplies you need? Do you have crop insurance or a livestock loss program in place?” asks Pinion ag advisor, Thomas Eatherly. “If you lose your buyer or customer, where else could you sell?” It’s less about watching for the sky to fall – and more about preparing for a rainy day to mitigate impact. Pinion Pro Tip: Understand your risk factors, mitigate their impacts, and pursue opportunities and solutions to weather ever-changing markets. Cash is king on the farm – especially in a crisis, downturn in the market or other unforeseeable event. Cash and cash flow are going to get your business where you want it to go, despite the uncertainty that you face. “I encourage farmers to get access to cash and capital when you don’t need it, so it’s ready when you do need it,” advises Pinion finance and growth consultant, Peter Martin. “Don’t be afraid to take on a little bit of leverage, especially if it’s used to backstop your working capital.”  Pinion Pro Tip: Focus on improving your cash flow. Examine expenses to increase your profitability and cut the extra fluff, revisit your debt schedule to see if you can optimize your structure, and invest in ways to control your inventory, such as on-farm storage.  For more information on the above, Kindly contact info@pinionza.com.