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Pinion Wealth invites its valued clients to a unique opportunity to gain insightful perspectives on the 2025 investment outlook with Ninety-One’s virtual event. This comprehensive session will delve into both local and global market dynamics, providing expert insights to help you navigate the complex investment landscape in 2025 and beyond. With key discussions on global economic trends and the future of South Africa’s economy, this 2025 investment outlook event will equip you with the knowledge needed to make informed decisions and position your portfolio for success in the year ahead. 2025 Investment Outlook Overview: Join Jeremy Gardiner and Clyde Rossouw for a deep dive into the 2025 investment outlook for South Africa’s fragile democracy and its profound implications for investors in the year ahead. This session will examine the intersection of local political and economic challenges, as well as global market trends, to provide a comprehensive understanding of how these factors will shape investment opportunities and risks. With expert analysis and practical insights, Jeremy and Clyde will help you navigate uncertainty, equipping you with the tools to make informed and strategic investment decisions in a rapidly changing environment. Date & Session Times for the 2025 Investment Outlook: Thursday, 20 February 2025 Morning Session: 10:00 – 11:45 (Zoom) Afternoon Session: 15:00 – 16:45 (Zoom) Why Attend? As the world digests the return of Donald Trump to the White House, Americans are left pondering: Is this the ‘new dawn’ so many anticipate, or the ‘dark storm’ others fear? Meanwhile, South Africans are navigating the uncertain road ahead for our Government of National Unity (GNU). While markets have reacted positively, investors remain cautious, waiting to see tangible progress. Jeremy Gardiner, a seasoned expert, will share his insights on the global political landscape, including the profound implications of shifting power in the US, and how these developments may impact emerging markets like South Africa. Although hope and optimism have returned to some degree, Jeremy will address the vulnerabilities and threats that persist, providing a comprehensive 2025 investment outlook for investors. In addition, Clyde Rossouw will explore the local environment, particularly focusing on the opportunities and challenges in South Africa’s economy and political landscape. Together, they will help you navigate these complexities with actionable investment strategies. Key Insights to Expect: Global Volatility: The return of figures like Donald Trump and its potential impact on global and local markets. Emerging Market Challenges: Why South Africa faces ongoing uncertainty and what that means for investors. Local Growth Opportunities: How infrastructure improvements and stable electricity supply could foster growth in South Africa. Strategic Positioning: How to approach investing in a world filled with both opportunities and risks. South Africa stands at a critical juncture. While global and local challenges persist, there are growing signs of recovery and opportunity. The return of stable electricity generation and infrastructure improvements are encouraging, but investors must navigate the landscape with caution. Jeremy’s insights will help provide a roadmap for positioning your investments for success in 2025. Join the Discussion Don’t miss this opportunity to hear from two of the leading voices in the investment world. Register here for the morning session or register here for the afternoon session on 20 February 2025, and gain the knowledge you need to make confident, informed decisions as we move into the year ahead. Important information: Should you require a CPD certificate, please complete the certificate information questions accurately, as it will appear on the certificate in the format you’ve entered your data. In order to qualify for CPD points, you would need to attend at least 90% of the full webinar session. You will receive the certificate automatically within 2-3 weeks of the webinar. Take stock with us. Let’s unpack what the future holds. If you have any questions or need further assistance, don’t hesitate to contact Pinion Wealth.

In an important update for businesses and employers, the South African government has announced a National Minimum Wage Increase, set to take effect on 1 March 2025. The new minimum wage will rise from R27,58 per hour to R28,79 per hour, marking an approximate increase of 4.4%. This adjustment will affect businesses across all sectors, with a few exceptions. The National Minimum Wage Increase is a crucial step toward improving the standard of living for workers in South Africa, promoting fair wages, and reducing income inequality. It ensures that workers in lower-wage industries will see a direct benefit, contributing to the country’s ongoing efforts to improve the welfare of its workforce. Here’s what you need to know about this important change to the National Minimum Wage Increase and how it impacts businesses and employees alike: Key Points to Note: New National Minimum Wage Increase Rate:Starting 1 March 2025, the mandatory National Minimum Wage Increase will set the wage at R28,79 per hour. This new rate applies to all businesses governed by NMW legislation, making it a legal requirement. Application to All Sectors:This adjustment will be applicable to workers across a wide range of industries. Importantly, farmworkers and domestic workers are also included, ensuring they receive the same National Minimum Wage Increase of R28,79 per hour. Employer Responsibility:Employers must comply with this wage adjustment in order to meet legal obligations. Non-compliance could lead to significant legal and financial consequences for businesses. Consequences of Non-Compliance: Failure to implement the new National Minimum Wage Increase can result in serious legal and financial consequences for businesses, including: Compliance Orders:Employers who fail to adjust wages in line with the National Minimum Wage Increase could be issued with compliance orders by the Department of Employment and Labour. A compliance order mandates that the employer make immediate adjustments to wages and could also include specific deadlines for payment. Non-compliance with these orders could further escalate the situation, resulting in additional penalties. Penalties and Legal Action:Businesses that disregard the National Minimum Wage Increase may face significant fines and penalties. These enforcement measures are designed to ensure that all employers follow the law. In some cases, persistent failure to comply can result in legal action, which could include court proceedings, damaging the reputation and financial stability of the business. This could be costly and detrimental to both the business and its employees. It is crucial for all employers to adhere to the National Minimum Wage Increase regulations to avoid facing these serious repercussions. Ensuring compliance not only protects your business from legal action but also supports fair pay practices, contributing to a healthier, more equitable workforce. Why This Matters: The National Minimum Wage Increase serves as a fundamental part of improving the standard of living for workers in South Africa. By ensuring fair wages across industries, the government aims to reduce poverty, inequality, and economic disparity in the workforce. This wage adjustment helps lift many workers out of poverty, providing them with a more secure financial future. As an employer, making this adjustment is not only a legal obligation but also a step toward contributing to a more equitable and sustainable economy. Compliance with the National Minimum Wage Increase promotes fairness in the workplace, reduces the wage gap, and fosters a more motivated and productive workforce. It helps create a positive work environment, leading to stronger relationships between employers and employees, which ultimately benefits the business in the long term. If you have any questions or need assistance with understanding how the National Minimum Wage Increase impacts your business, feel free to reach out to us. You can contact Pinion directly at info@pinionza.com for more information and expert support. We’re here to help you stay compliant and navigate these changes smoothly.

We’re thrilled to invite you to the 2025 Pinion Agri Conference—a dynamic event dedicated to exploring the key principles, strategies, and innovations that are shaping the future of agriculture. Whether you’re an industry veteran or just starting out, the Pinion Agri Conference 2025 promises to be a valuable experience full of expert insights, meaningful discussions, and opportunities to connect with fellow professionals. 2025 Pinion Agri Conference Highlights: Opening The 2025 Pinion Agri Conference with Tom Dawson-Squibb Tom Dawson-Squibb, a high-performance coach, will kick off the 2025 Pinion Agri Conference with a powerful session on Performance Connections. He’ll share his expert perspective on how teams can work together to bring out the best in each other—a crucial element for success in any field, including agriculture. Expert Workshop with Chantell Ilbury Join acclaimed author and strategist Chantell Ilbury for an engaging, hands-on workshop at the 2025 Pinion Agri Conference, where you’ll explore the art of scenario planning and how to develop adaptive strategies for the agricultural industry. This session is designed to give you practical tools you can immediately apply to your own work. Networking Lunch Take the opportunity to connect with fellow agricultural professionals over lunch at the 2025 Pinion Agri Conference. Whether you’re looking to forge new partnerships or just share insights with others, this is the perfect chance to meet like-minded individuals who are passionate about the future of agriculture. Afternoon Sessions with Industry Leaders Our afternoon lineup at the 2025 Pinion Agri Conference features thought leaders on critical agricultural topics: James Cullis (Water Resources Engineer) will address the ever-important issue of water availability—a resource that is vital to the future of farming. Andrew Beckerling (Agronomist) will dive into the ongoing carbon debates, exploring how the agricultural sector can play a role in reducing its carbon footprint. Wrap-Up Session with Pinion Advisory To ensure the key takeaways from the 2025 Pinion Agri Conference resonate, our team at Pinion Advisory will lead a closing session, helping you distill the most valuable insights from the day and offering guidance on how to implement them in your own work. Evening Dinner with Adi Birrell End the day on a high note with a dinner featuring Adi Birrell, renowned South African Cricket Coach, who will share his approach to high-performance management. Get a unique perspective on leadership, teamwork, and achieving success in high-pressure environments—lessons that are just as relevant to agriculture as they are to sports at the 2025 Pinion Agri Conference. Sector-Specific Focus Groups: On March 12th, at the 2025 Pinion Agri Conference, we’ll host specialised sessions tailored to the needs of different agricultural sectors: Dairy, Beef, and Fiber Industries: Dive deep into the issues and opportunities affecting these sectors and collaborate with other professionals who share your focus. Citrus Growers: If you’re a citrus grower, you won’t want to miss the related topics at the CGA Summit on Day 2 in Gqeberha. Event Details: Date 11th March: 8:30 AM – Late 12th March: 8:30 AM – 11:30 AM Location Running Waters, Kragga Kammard, Port Elizabeth Don’t miss this chance to contribute to the future of agriculture at the 2025 Pinion Agri Conference. Whether you’re looking to gain new knowledge, build your network, or be part of the conversation on agriculture’s future, this event is the place to be. Reserve Your Spot Now! CLICK HERE to Book Now.We can’t wait to welcome you to a day filled with learning, collaboration, and innovation! For more information, visit: www.pinionafrica.com

RA and TFSA contributions are key areas that shouldn’t be overlooked as we enter 2025. The new year has arrived with a promise of new opportunities, and it’s the perfect time to take control of your financial future. Every year, we’re bombarded with noise—from promises of quick fixes to the hype surrounding new trends. It’s easy to get distracted, but let’s refocus on what really matters: your goals, your financial plan, and the steps you can take to ensure a prosperous year ahead. One key area that shouldn’t be overlooked is your retirement planning and tax strategy—specifically, making RA and TFSA contributions before the looming deadlines. Don’t Miss the RA Season Cut-Off Dates! As we move closer to February, the deadline for making RA and TFSA contributions is fast approaching. These valuable tools allow you to reduce your tax burden while also increasing your long-term investments. It’s easy to get caught up in the rush as the deadlines approach, so the earlier you get organised, the better. RA season is a time of certainty. It’s when you can secure a guaranteed tax benefit and boost your retirement nest egg. The tax deductions for RA and TFSA contributions are available for a limited time, so don’t wait too long to make the most of them. If you miss the cut-off, you miss out on the tax deduction for the 2025 financial year. The good news? You can avoid this scenario with a bit of early planning. Why Invest in a Retirement Annuity (RA) and Tax-Free Savings Account (TFSA)? Both RA and TFSA contributions are powerful savings tools that can benefit you in the short and long term. Here’s why: Retirement Annuity (RA) An RA is a key component of your retirement planning and tax strategy. By contributing to an RA, you not only invest for your future, but you also receive a tax deduction for your contributions. For every Rand you contribute, your taxable income decreases. The tax benefit depends on your income level, with tax reductions ranging from 18c to 45c per Rand. If you earn around R600,000 annually, that’s a 36c saving for every Rand you invest in your RA! The introduction of the Two-Pot Retirement System has added even more flexibility to your RA contributions. Now, you can access one-third of your RA before retirement age, should you need it (note: tax implications apply here, so speak to your financial advisor for guidance). Tax-Free Savings Account (TFSA) A TFSA is a savings product that allows you to earn investment growth completely tax-free. The benefits of a TFSA are compelling—there’s no tax on the growth of your investments, including interest, dividends, and capital gains. Plus, there’s no tax when you withdraw funds from your TFSA. The contribution limit for TFSAs is R36,000 per year, with a lifetime cap of R500,000. While contributions to a TFSA don’t provide an immediate tax deduction, the long-term tax-free growth is a significant advantage. The Deadline: Don’t Wait Until the Last Minute! Investment houses have different cut-off dates for processing RA and TFSA contributions, so it’s crucial to check the deadlines and ensure all the necessary paperwork is submitted on time. To avoid any last-minute stress, aim to have your RA and TFSA top-ups completed by Friday, 21st February 2025. Remember, the team at Pinion Wealth is here to assist you with the process. Don’t hesitate to reach out if you need guidance on making your RA and TFSA contributions or if you have any questions about your financial planning. Make 2025 Your Best Financial Year Yet As we dive into 2025, let’s stay focused on what we can control. The financial decisions you make now will shape your future, so take advantage of the opportunities available to you today. By investing in your RA and TFSA contributions, you’ll set yourself up for a more secure financial future while enjoying the immediate benefits of tax savings. Wishing you a prosperous 2025 filled with financial success!

As we step into a new year, Futa’s Footsteps extends heartfelt thanks to all our clients who continue to partner with us in their pursuit of excellence in dairy farming. With over 45 years of experience in managing dairy cows, Futa Oxenham is excited to announce a range of tailored dairy farming training programs aimed at empowering farm workers and managers with the skills and knowledge they need to drive farm success. These specialised dairy farming training programs are designed to focus on vital areas like udder health, disease management, reproductive efficiency, and overall cow well-being. Each of these aspects is critical for maintaining a successful and healthy dairy operation. By offering focused training, we help ensure that your team is equipped with the best practices and tools to manage your herd and farm efficiently. Our dairy farming training programs are carefully crafted to address the challenges dairy farms face, ensuring that farm workers are knowledgeable, confident, and prepared to tackle any obstacles. When your team has access to the right information and skills, it translates to a more productive, sustainable, and profitable farm. We’re here to support you in optimising your farm’s performance, enhancing cow health, and ensuring long-term success. Let us help you make 2025 your most productive and successful year yet by equipping your team with the expertise they need through our dairy farming training programs. Key Areas of Focus in Our Dairy Farming Training Programs Milking Procedures for Udder Health Learn best practices in dairy farming training to maintain udder health and optimise milk quality. Dairy farming training focuses on minimising the risk of infection and promoting the overall well-being of your cows. By implementing proper milking techniques and hygiene protocols, farm workers will be equipped with the skills needed to ensure both high-quality milk production and the health of the herd. Regular training in these areas helps prevent costly health issues and improves the overall productivity of your dairy operation. Bovine Disease Management Equip your team with dairy farming training to identify symptoms and manage disease prevention. Our training focuses on implementing effective treatment strategies, helping maintain a healthy herd and boosting dairy operation efficiency. Heat Spotting and AI Procedures Gain insights into reproductive management practices, such as heat detection and artificial insemination, to enhance breeding efficiency and productivity. Cow Health and Comfort Through our dairy farming training programs, discover practical strategies to optimise your farm environment and management practices. By focusing on cow comfort, you can directly improve productivity, animal welfare, and milk quality. Understanding how to create an ideal environment for your cows ensures their well-being, which in turn boosts the efficiency of your dairy operations. Calf Rearing Techniques Learn the essentials of calf management through our specialised dairy farming training to ensure healthy growth and development. By focusing on proper care and feeding techniques, you can lay a strong foundation for the future productivity and success of your farm. Dairy farming training covers everything from early-stage nutrition to managing calf health, helping you raise strong, productive cows that will contribute to your farm’s long-term success. With the right knowledge and tools, you can ensure that your calves are given the best start in life, setting your dairy operations up for sustained growth and profitability. Junior Pasture Principles Through our dairy farming training, understand the fundamentals of pasture management to maximise grazing efficiency. By improving herd health and enhancing the sustainability of your operations, you’ll create a more resilient and productive farming system. Proper pasture management is key to maintaining the long-term success of your dairy farm while optimising resources. At Futa’s Footsteps, we believe modernised practices and technologies are essential, but they should never overshadow the irreplaceable value of a farmer’s intimate knowledge of their land. The farmer who walks the land, understanding its intricate dynamics and nurturing relationships with their animals and workers, is irreplaceable. Our mission through dairy farming training is to share knowledge and skills back into the farming community, ensuring that every worker and manager is empowered to succeed in their roles. As we move forward into this exciting year, Futa’s Footsteps invites you to connect with us and take the next step in enhancing your dairy operations through our tailored dairy farming training programs. Whether you’re looking to sharpen your team’s skills or gain deeper insights into best farming practices, we are here to provide the support you need. Our training programs are designed to empower your workers and managers, helping them excel in their roles and contribute to the overall success and sustainability of your dairy farm. Let’s work together to cultivate a thriving farming community where everyone can grow and play a part in the continued success of your dairy operations. Click here to view more on Pinion SA.

As Pinion Wealth SA celebrates its 5th anniversary, we take a moment to reflect on the incredible journey we’ve embarked on since our official license was granted on 10 December, 2019. From our humble beginnings as ACS Investing, we’ve grown into a leading provider of agriculture business solutions, rebranding and redefining our approach to meet the ever-changing needs of our clients in the financial and agricultural sectors. This milestone is not only a reflection of the passage of time but also of the strength, resilience, and growth we’ve achieved alongside our loyal clients. Over the past five years, we’ve focused on delivering tailored agriculture business solutions that empower our clients to navigate the complexities of both the financial and agricultural landscapes. With a deep understanding of the unique challenges faced by those in agriculture, we’ve strived to offer strategic advice, innovative financial solutions, and comprehensive support that fosters long-term success. This anniversary is a testament to the trust our clients have placed in us, as well as the commitment we have to helping them achieve their financial and business goals. Thank You to Our Loyal Clients We owe much of our success to our clients who have stood by us through challenging times. Their trust, commitment, and unwavering support have been instrumental in our growth and have played a pivotal role in shaping the way we provide agriculture business solutions. Over the past five years, we’ve seen remarkable development in our services and products, all designed to meet the unique needs of the agricultural sector. It is through the support of our clients that we’ve been able to innovate and adapt, continuously improving our ability to offer tailored solutions for financial and operational success. Your commitment to your investments, even during the most turbulent times, has not only kept us moving forward but has also resulted in positive outcomes. We are honored to have played a part in guiding you through these challenges and are excited about continuing to deliver agriculture business solutions that drive sustainable growth, profitability, and resilience in the years ahead. Your trust in our expertise has been crucial, and we look forward to helping you unlock even more opportunities for success in the future. Reflecting on 2024: A Year of Resilience and Opportunities As we move into 2025, we reflect on 2024—a year defined by volatility, uncertainty, and remarkable resilience. Despite global challenges such as inflation, geopolitical tensions, and fluctuating economic conditions, South Africa demonstrated significant strength, particularly within the agricultural sector. This year reinforced the importance of steadfast investment strategies, adaptability, and the need for robust agriculture business solutions to navigate uncertain times. At Pinion Wealth SA, we embraced innovation and remained committed to the core principles that drive our success. By offering tailored agriculture business solutions, we helped our clients face the challenges of the year, ensuring their financial portfolios remained resilient while optimising operations. Our focus on providing strategic, forward-thinking advice has enabled our clients to thrive amidst global uncertainties, reinforcing the importance of long-term planning and flexibility. Looking ahead, we continue to be dedicated to offering innovative agriculture business solutions that foster growth, stability, and success in an ever-changing global landscape. 2025 holds new opportunities, and we are excited to partner with our clients in navigating them. Highlights and Lowlights of 2024 Market Resilience Amid Uncertainty Despite global market fluctuations, South African assets, particularly in agriculture, showed strong performance. This year highlighted the importance of diversification and sticking to well-crafted investment plans. For those utilising agriculture business solutions, resilience and adaptability proved essential in navigating market challenges. Geopolitical and Economic Tensions 2024 brought its share of geopolitical and economic challenges, from trade disruptions to local political instability. However, those who remained committed to their financial strategies saw long-term benefits. Agriculture business solutions played a key role in helping businesses weather external pressures and stay focused on their goals. Opportunities in Change Amid the turbulence, there was a growing demand for comprehensive financial planning. As the complexity of the market increased, more businesses turned to agriculture business solutions for independent, holistic advice. This trend highlighted the value of strategic, forward-thinking planning in navigating uncertainty. Growth and Evolution Despite the turbulent economic landscape of 2024, Pinion Wealth SA has continued to grow and evolve, underscoring our commitment to providing tailored agriculture business solutions. This year, we expanded our client base, welcoming new partners in the agriculture sector and beyond, all of whom benefited from our customised, forward-thinking financial strategies. We also strengthened our team by adding talented professionals who bring fresh insights and expertise to our services, further enhancing our ability to deliver industry-leading solutions. At the core of our growth is our unwavering dedication to independence and client-centric advice. By embracing technology and innovation, we’ve improved our ability to offer agile, efficient, and scalable agriculture business solutions that help clients navigate complex financial landscapes. This ongoing evolution ensures that we remain equipped to meet the changing needs of the agricultural industry, enabling our clients to thrive in an ever-evolving market. Looking Ahead to 2025 As we step into 2025, we remain optimistic about the future. The year promises both opportunities and challenges, especially with the evolving global economy and South Africa’s gradual recovery. We are ready to embrace these changes and continue providing agriculture business solutions that address the dynamic needs of our clients, while delivering personalised financial advice to navigate these shifts. Economic Landscape: Stabilisation in certain sectors offers key opportunities for growth, particularly within agriculture.Shifting Client Expectations: We anticipate a growing demand for technology-driven financial solutions, while maintaining the personal touch that distinguishes our service.Evolving Regulatory Environment: We will stay proactive in adapting to new regulations and ensuring our clients remain compliant. Staying True to Our Core Amidst all the changes, one thing remains constant at Pinion Wealth SA: our core values. We are unwavering in our commitment to offering unbiased, independent advice tailored specifically to meet the needs of those seeking agriculture business solutions. By focusing on long-term success

As we approach the end of 2024, it’s the perfect time to reflect on the remarkable changes and progress we’ve made at Pinion SA. This year marked a transformative period, as we embarked on a significant rebranding journey and joined the Pinion Global Network, opening up new possibilities for both our clients and our business. Together, we’ve taken major strides towards offering enhanced agriculture business solutions that are not only innovative but also tailored to meet the dynamic and ever-evolving needs of our industry. Our continued focus on providing comprehensive agriculture business solutions has empowered our clients to navigate challenges with confidence, drive efficiency, and stay ahead of market trends. By leveraging global expertise and local insights, we’re committed to delivering practical, impactful solutions that foster long-term success in agriculture and business. Our Strength Lies in Our People At Pinion SA, we firmly believe that the key to delivering exceptional agriculture business solutions lies in the strength of our people. Our team, composed of highly skilled and passionate professionals, is the driving force behind every success we achieve. We continuously invest in their development, ensuring they are equipped with the latest industry knowledge and tools to deliver innovative, tailored solutions that meet the unique needs of the agricultural sector. Their expertise and commitment to excellence enable us to stay ahead of industry shifts and offer strategies that empower our clients to thrive in an ever-evolving marketplace. Innovation Driving Growth This year, Pinion SA has been dedicated to fostering agriculture business solutions that drive growth and innovation. By leveraging our expanded global network, we’ve been able to incorporate the latest international trends and advanced strategies into our approach, enabling us to deliver high-impact solutions to our clients. Through the use of data-driven insights and innovative financial models, we’re empowering businesses to stay ahead of the curve, improve their operations, and adapt to the ever-evolving agricultural landscape. Our connection to the Pinion Global Network remains a powerful tool, allowing us to bring world-class solutions and expertise to the local market. Agriculture 2024: An Overview The fluctuations in commodity prices throughout 2024 have presented a series of challenges for the agriculture industry, highlighting the need for agile agriculture business solutions. As we witnessed with the downturn in the red meat sector and the volatility in maize prices, the agricultural market is inherently cyclical, requiring businesses to remain adaptable in order to thrive. Rising costs in labor, distribution, and energy, despite low inflation, have further underscored the importance of maintaining efficient operations. This year has been a valuable reminder that agriculture businesses must focus on creating sustainable, cost-effective strategies that can weather market fluctuations, ensuring long-term growth and stability. 2024 Pinion SA Highlights This year, we introduced several initiatives to bolster our commitment to providing agriculture business solutions that cater to the ever-evolving needs of the agricultural industry. Our Livestock Study Group focused on refining livestock performance and financial analysis, fostering productive discussions to optimise operations in sheep, beef, and goat farming. Additionally, the introduction of “Futa’s Footsteps” allows for tailored on-farm training, which is designed to elevate skills across all levels of the workforce, ensuring continued growth and productivity within the industry. Through our strategic partnership with L&J Consulting, we’ve also expanded our reach in agri-financing, delivering specialised funding options to ensure businesses in agriculture can grow without financial strain. Moreover, the extension of Pinion Human Capital’s HR and IR services across South Africa further strengthens our approach to providing businesses with the tools to navigate compliance and employee relations challenges seamlessly. Looking Ahead to 2025 As we look toward 2025, Pinion SA is energised by the endless potential and opportunities that lie ahead. We are committed to strengthening our agriculture business solutions, enhancing the way we serve our clients and expanding our impact within the global network. Our continued focus will be on delivering tailored solutions to meet the unique challenges faced by the agricultural sector. Through our global reach, we aim to introduce best practices and innovation to the South African market, empowering local businesses with cutting-edge tools for growth. Our investment in both people and technology will be key drivers in fostering even more innovation, ensuring we stay ahead of industry trends and provide practical, forward-thinking solutions. As we expand our portfolio of services, we will remain deeply committed to helping businesses in agriculture navigate evolving challenges and seize new opportunities for success. As we wrap up an incredible year of transformation and growth, Llewellyn Collett, CEO of Pinion South Africa, extends his heartfelt gratitude to the clients, partners, and dedicated staff of the company. Their continued trust and collaboration have been essential to Pinion SA’s progress, and together, the team is poised to reach new heights in 2025. On behalf of the entire Pinion SA team, Llewellyn wishes everyone a blessed Christmas and a prosperous New Year, filled with abundance, growth, and happiness as Pinion continues to build a brighter future in the world of agriculture business solutions. Click here to view our social media. 

South African trustees and beneficiaries must take note of recent amendments to tax law, effective 1 March 2024. These legislative updates introduce significant changes to the taxation framework governing distributions from South African trusts to non-resident beneficiaries. Historically, such distributions benefited from a flow-through mechanism, allowing income and capital gains to be taxed at the beneficiary’s level. However, the new provisions will impose taxation at the trust level, fundamentally altering how these trusts operate. As a result, both trustees and beneficiaries must reassess their financial and tax planning strategies to navigate the increased complexities and potential liabilities introduced by these changes. Overview of Section 25B of the Income Tax Act Section 25B of the South African Income Tax Act historically governed the taxation of income earned by trusts and distributed to beneficiaries. This tax law allowed income and capital gains to “flow through” the trust directly to beneficiaries, ensuring that taxation occurred at the beneficiary’s level rather than within the trust itself. Such a structure was particularly advantageous for non-resident beneficiaries. By leveraging this mechanism, they could benefit from favourable provisions in double tax treaties or exemptions under their respective jurisdictions, often leading to reduced tax liabilities. This flow-through taxation model provided trustees and beneficiaries with flexibility and efficiency in tax planning. It ensured that non-resident beneficiaries bore the tax obligations aligned with their home country’s tax regime, rather than being subjected to South African trust taxation. However, the impending amendments to this tax law are set to dismantle this system. Effective 1 March 2024, the changes will shift the tax burden to the trust level, fundamentally altering how trusts manage and distribute income and gains. The disruption of this long-standing arrangement underscores the importance of a strategic response. Trustees will need to evaluate the financial and operational implications of the new tax law to ensure compliance while minimising the tax impact on the trust and its beneficiaries. Similarly, non-resident beneficiaries must reassess the viability of distributions under this revised framework and seek expert advice to navigate the complexities introduced by these legislative updates. Key Changes Effective 1 March 2024 Income Tax Treatment of Distributions From 1 March 2024, income distributed by a South African trust to non-resident beneficiaries will no longer retain its flow-through nature. This income will now be subject to taxation at the trust level in South Africa, irrespective of the beneficiary’s country of residence. This change eliminates the opportunity for non-resident beneficiaries to defer or reduce tax liabilities by relying on the tax treaties of their respective countries. Capital Gains Tax (CGT) Capital gains realised within the trust and distributed to non-resident beneficiaries will now attract CGT within the trust itself. The trust, not the beneficiary, will bear the CGT liability. In most cases, this will result in a higher effective tax rate compared to the rates non-resident beneficiaries might have been subject to under their jurisdictions. Importantly, beneficiaries will no longer be able to directly apply exemptions or claim relief under double tax treaties for these distributions. Implications for Trustees and Beneficiaries The changes to South Africa’s tax law necessitate a proactive review of trust structures and financial strategies to ensure compliance and minimise tax liabilities: Trustees: Assess the tax implications of retaining income or making distributions before 1 March 2024. With the new tax law imposing liabilities at the trust level, early distributions might offer strategic advantages. Collaborate with tax advisors to evaluate the trust’s current structure and explore restructuring options. This could include redistributing assets or adjusting income streams to mitigate the impact of the higher tax rates applied within the trust. Non-Resident Beneficiaries: Reevaluate the financial benefits of receiving distributions from South African trusts under the revised tax law framework. The removal of flow-through taxation may reduce the attractiveness of such distributions, requiring a reassessment of their role in financial planning. Engage with both local and international tax consultants to gain a thorough understanding of the full impact on personal taxation. Beneficiaries should also explore how their home country’s tax treaties and exemptions may apply in the context of the amended South African tax law. By addressing these changes with urgency and expert advice, trustees and beneficiaries can position themselves to navigate the evolving tax landscape effectively. Planning Ahead With the forthcoming legislative amendments to tax law, it is essential for both trustees and beneficiaries to take proactive steps. Early action can help mitigate potential impacts and ensure compliance with the new regulations. Here are key actions that should be prioritised: Conduct a Thorough Analysis of the Trust’s Income and Capital Gains PatternsTrustees should begin by reviewing the trust’s historical and projected income and capital gains patterns. Understanding these figures is essential for assessing how the tax law changes will impact the trust’s overall tax liability. This analysis will also help identify areas where adjustments can be made to minimise tax exposure, such as the timing of distributions or restructuring of investments within the trust. Consult with Tax and Legal Experts to Explore Compliant StrategiesGiven the complexity of the upcoming tax law amendments, it is crucial to work with tax and legal experts to navigate the new regulations. Experts can provide insights into strategies that ensure the trust remains compliant with the amended tax laws while minimising liabilities. They can also offer guidance on optimising the trust’s structure, reviewing distribution policies, and utilising any available tax incentives or exemptions. Legal advice is particularly important to ensure that any structural changes are in line with the latest requirements. Stay Informed About Additional Regulatory ChangesTrustees and beneficiaries should commit to staying informed about any additional regulatory changes that may affect the trust’s taxation. Tax law is dynamic, and there may be further amendments, rulings, or interpretations that influence how trusts are taxed. Regular consultations with tax professionals, attending seminars, and subscribing to legal updates will help ensure that all parties involved remain up-to-date on relevant changes. Holiday Closure Notice The upcoming amendments to tax law require careful planning and strategic action from both

As we step into November, it’s astonishing how quickly this year has passed! At Pinion SA, we’re eager to share important updates and insights that will assist you in navigating the complexities of the agricultural and business landscape. This month, our focus is on crucial topics that impact workplace compliance. From Labour Law Insights and POPIA Compliance to Employment Equity and Skills Reporting Seasons, we’ll delve into the essentials that every business needs to understand. Additionally, we are thrilled to introduce our ACS Academy offerings and the launch of our Livestock Study Group. By exploring these themes, we aim to provide you with the knowledge and tools necessary to ensure that your organisation remains compliant and thrives in today’s fast-paced environment. Let’s dive in and discover how these topics can enhance your business operations and foster a culture of workplace compliance and excellence. Key Insights for November – Workplace Compliance Labour Law Insights by Pinion Human Capital Understanding vicarious liability is vital in the workplace, particularly regarding sexual harassment issues. Employers can be held accountable for their employees’ actions during work hours, especially when these actions involve discrimination or harassment. To mitigate risks, it’s essential for employers to implement reasonable measures such as timely actions upon receiving notifications, establishing zero-tolerance policies, and providing training for employees. If you need guidance or training for your managers and staff, reach out to madelaine.loock@pinionza.com. POPIA Compliance Is your business fully POPIA compliant? At Pinion Human Capital, we specialise in helping organisations navigate the POPIA compliance journey. Our services include: Legal Guidance: Clarifying POPIA requirements specific to your industry. Data Audits and Risk Assessments: Identifying compliance gaps and creating actionable plans. Policy and Procedure Development: Establishing or enhancing your data protection policies. Employee Training: Equipping your team to effectively protect data. Don’t risk penalties—let us help you build customer confidence with our expert compliance assistance. Contact us today to secure your compliance future! Employment Equity Season A friendly reminder to all clients: please submit your Employment Equity (EE) data for the 2024 workplace compliance season. The deadline for online submissions is 15 January 2025. Timely submission is crucial for ensuring workplace compliance and facilitating a smoother review process, helping you avoid potential penalties. Skills Reporting Season The skills reporting season opens in December 2024. Be prepared to submit your Annual Training Report (ATR) and Workplace Skills Plan (WSP) to the relevant Sector Education and Training Authorities (SETAs). Submissions are due by 30 April 2025. If you need assistance with your reports or have questions about the requirements, don’t hesitate to reach out. Livestock Study Group We’re excited to announce the launch of our Livestock Study Group! In our inaugural session, we delved into production data and financial analysis, igniting valuable discussions on optimising performance in sheep, beef, and goat farming. This collaborative effort aims to enhance knowledge and practices within the livestock sector. Upcoming Events Pinion Agri Conference 2025: Join us for the Agri Conference on 11 & 12 March 2025, with the theme “Revisiting the Rules of the Game.” This event will be held at Running Waters, Plot 6, Kragga Kamma Rd, Port Elizabeth. Engage with industry leaders and gain insights from workshop facilitator Chantell Ilbury, co-author of best-selling books on scenarios and strategy. Mark your calendars for this opportunity to network and plan the future of agriculture. Important Reminders As we approach the festive season, please note that our offices will be closed from 4:30 PM on 20 December, 2024, and will reopen on January 6, 2025. For more information on Employment Equity, Skills Reporting, or POPIA Compliance, feel free to reach out to Licinda.cordier@pinionza.com or rene.botha@pinionza.com Let’s ensure we finish the year strong and compliant. Thank you for being a part of the Pinion SA community!

Pinion Human Capital is excited to invite you to participate in two essential workplace compliance training sessions. These sessions are designed to deepen your understanding of critical workplace regulations and provide you with the tools to foster a respectful, safe, and inclusive work environment. Led by our expert Madelaine Loock, the training will cover key aspects of Labour Law in the Workplace and Harassment in the Workplace. Both sessions are aimed at empowering employees and management to navigate workplace regulations effectively, ensuring full compliance while promoting fairness and respect within the organisation. Our workplace compliance training is especially valuable for HR professionals, management teams, and anyone involved in employee relations or responsible for maintaining legal and ethical standards in the workplace. By attending, participants will gain essential insights into workplace law, understand their legal obligations, and learn best practices for creating a productive and compliant work environment. Join us to enhance your knowledge, build a more compliant workplace, and promote a culture of respect. 1. Labour Law in the Workplace Training Date: 14 October 2024 Time: 09:00 – 12:00 Location: 35 Buffelsfontein Road, Mount Pleasant, Port ElizabethClick here to register.  This comprehensive workplace compliance training session is designed to provide participants with in-depth insights into key labour laws and employee rights. By focusing on best practices for maintaining a fair and compliant work environment, the session equips attendees with the essential knowledge needed to navigate complex legal requirements effectively. Participants will learn how to foster a workplace culture that values fairness, respects employee rights, and adheres to South Africa’s stringent labour regulations. Key topics will include understanding employee entitlements, managing disciplinary processes in line with legal standards, and the responsibilities of employers to maintain a compliant workplace. The training will also provide practical advice on how to mitigate legal risks by proactively addressing compliance challenges and implementing robust internal policies. Who Should Attend:This workplace compliance training is ideal for HR professionals, management teams, and anyone involved in employee relations, human resources, or compliance roles. Whether you are directly responsible for ensuring workplace fairness or seeking to enhance your knowledge of labour laws, this session will provide valuable insights and practical knowledge to help you succeed. Benefits of Attending: Gain a clear understanding of South Africa’s labour laws and how they apply to your business. Learn practical strategies for implementing and maintaining compliance in your workplace. Enhance your ability to manage employee relations and handle disciplinary matters in a fair and legally compliant manner. Reduce the risk of labour disputes and potential legal action by staying informed on the latest regulations and best practices. By participating in this session, you’ll be better prepared to handle labour-related matters, promote a compliant and fair work environment, and protect your organisation from legal risks. Register Before: 9 October 2024To register, please use the provided link or contact Madelaine at madelaine.loock@pinionza.com for more information. This training is an opportunity to ensure your business remains compliant, supports positive employee relations, and is equipped to face any labour law challenges effectively. 2. Harassment in the Workplace Training Date: 21 October 2024 Time: 09:00 – 12:00 Location: 35 Buffelsfontein Road, Mount Pleasant, Port ElizabethClick here to register.  This workplace compliance training session focuses on one of the most critical aspects of maintaining a healthy and productive work environment—preventing workplace harassment. Attendees will gain essential insights into identifying, addressing, and preventing harassment in the workplace, ensuring compliance with regulations, and fostering a culture of respect and inclusivity. The session will cover strategies to promote a zero-tolerance approach to harassment, equipping participants with the tools to recognise inappropriate behaviour, manage complaints effectively, and create a safe space for employees to report issues. It will also emphasise the legal responsibilities of employers and management in preventing and addressing harassment, helping businesses remain compliant with relevant laws while promoting a positive work environment. Who Should Attend:This workplace compliance training is open to all employees and management staff, particularly those involved in employee relations, management, or compliance roles. If you are responsible for creating or maintaining a safe, inclusive workplace or simply wish to better understand your rights and responsibilities regarding harassment, this training is for you. It’s especially beneficial for those involved in human resources, ensuring that policies and practices align with legal requirements. Benefits of Attending: Learn how to identify and prevent various forms of workplace harassment, from verbal and physical harassment to more subtle forms of misconduct. Understand the legal implications and responsibilities for employers and managers in preventing harassment. Gain tools for promoting inclusivity and ensuring all employees feel safe, respected, and valued in the workplace. Enhance your ability to handle harassment complaints swiftly and fairly, reducing legal risks and improving overall company culture. Protect your organisation from potential lawsuits and ensure compliance with South African laws on workplace harassment. By participating in this session, you will be better equipped to foster a respectful, inclusive work environment that benefits both employees and the organisation. This workplace compliance training will help create a culture where every employee feels protected and empowered, contributing to a more positive and productive workforce. Register Before: 16 October 2024To register, please use the provided link or contact Madelaine at madelaine.loock@pinionza.com for more information. This training is a valuable opportunity to ensure your organisation meets compliance standards, strengthens workplace culture, and takes a proactive stance against harassment. Why Attend? Attending these workplace compliance training sessions is essential for those looking to stay informed about workplace laws and best practices. With topics like labour laws and workplace harassment becoming more prominent, it’s crucial to ensure that you and your team are prepared to handle these important issues. Key Benefits: Stay Compliant:Learn up-to-date information on labour laws and harassment regulations, ensuring your organisation avoids legal risks and stays compliant with South African workplace laws. Promote a Positive Culture:Foster a respectful, inclusive work environment by implementing policies that prevent harassment and promote fairness, leading to increased employee morale and productivity. Reduce Legal Risks:Gain strategies for handling grievances, disciplinary