April 2024 - Bay of Plenty Business News

April 2024 BAY OF PLENTY BUSINESS NEWS 7
CREATIVE AGENCY PARTNERS
WITH GLOBAL HEAVYWEIGHT
Leading advertising agency
DDB Aotearoa and pioneering
kaupapa Māori
agency Whare Creative have
today announced a unique partnership
that will see them working
together under a new brand,
Takitoru.
Takitoru will provide a full
communications suite from strategic
consultation to ideation,
design and execution. Importantly
it will offer existing and
new clients the powerful combination
of two award-winning creative
teams utilising te ao Māori
frameworks with the tautoko
(support) of a joint workforce of
240.
Bridgette Tapsell, founder of
Mount Maunganui-based Whare
Creative and Priya Patel, CEO
of DDB Group Aotearoa, say the
partnership is an exciting step
forward for both agencies. “We
have worked together for the
past 18 months and saw that by
coming together we could offer
more value to our clients and our
people.”
Bridgette said the partnership
demonstrates DDB Aotearoa’s
DDB Aotearoa and Whare Creative at
Whakaue marae in Maketu, Bay of Plenty.
commitment to being a tangata
tiriti/genuine ally to Māori and
shows Whare Creative’s promise
to its kaupapa to offer the world
an indigenous, creative solution
to pressing issues around equity
and diversity, climate change,
affordable housing and, most
importantly, the hauora of its
people.
“This world view has resonated
with many non-Māori clients
and has widened our scope
of mahi and impact. For us this
next step makes perfect sense,”
she said.
CEO of DDB Group Aotearoa,
Priya Patel, said that the two agencies
had taken time to get to know
each other and work together
with Whare Creative (formerly
Whare PR) advising them in the
cultural creative space for their
clients.
“It has been a meeting of
minds, hearts and wairua and
we wanted to formalise our partnership.
This model sees us join
together to create a third entity,
which will give us and our clients
unexpected opportunities,” Priya
Patel said.
Bridgette Tapsell added that
some of the DDB leadership team
came to her marae last year.
“We had a wānanga about our
joint intentions and aspirations
for Aotearoa. We all left excited
and determined to move forward
together,” she said.
Tapsell maintains mana motuhake/ownership
of her agency,
and will continue to service
existing clients, but the holding
company behind Takitoru will
have respected kaiārahi Rangi
Ahipene, who works at Whare
Creative, join as an equal partner.
“Whakareia tō kura ahurea
Māori hei tauira mō te ao. We are
thrilled to be entering into this
partnership brand, to continue
our vision of sharing our culture
and values with the world,” said
Ahipene.
He explained that Takitoru
is a Māori word (noun) which
means a group of three; the three
being created from the combination
of Whare Creative and
DDB Aotearoa, that when twisted
together like two strands of flax
fibre (muka), create a third, much
stronger fibre.
“The third aspect has its own
magic and special quality, creating
new stories and relationships
that are only possible through our
shared thinking and knowledge,”
he said.
Patel said the arrangement
will also see DDB utilise Whare
Creative’s cultural uplift services,
where employees will have
access to te reo Māori and tikanga
courses, and cultural development
related directly to the media
industry.
CA ANZ APPLAUDS GOVERNMENT’S TRUST TAX RETREAT
Chartered Accountants Australia
and New Zealand
(CA ANZ) is pleased to see
the Government welcoming a recommendation
from the Finance
and Expenditure Select Committee
that it pulls back from
implementing a blanket 39 per
cent trust tax rate, saying it recognises
that trusts are created for a
variety of reasons and not just to
avoid paying the top tax rate.
A proposal to tax all trusts at a
39 per cent rate from 1 April 2024
would have significantly overtaxed
most New Zealand trusts,
with the Government’s own data
showing that nearly half (46 per
cent) had income of less than
$10,000, said John Cuthbertson
FCA, CA ANZ’s New Zealand Tax
and Financial Services Leader.
“Low-income trusts, often set
up to protect assets, give to charity
and provide for the welfare of
beneficiaries, would have faced
a leap in their taxation rate to
39 per cent. The current trustee
rate of 33 percent already leads
to an element of over taxation for
many trusts.”
The Finance and Expenditure
Committee today recommended
a two-tier tax rate structure for
trusts, based on CA ANZ’s own
proposal, but with a much lower
‘de minimis,’ of $10,000, where
trusts with income over that figure
would be taxed at 39%.
“The recommendation is great
news for trusts which generate
relatively small amounts of
income and were set up for a variety
of reasons other than avoiding
tax,” Cuthbertson said.
“CA ANZ proposed a de minimis
of $100,000, to provide fairer
taxation to more trusts, but overall
we’re pleased that the committee
has listened to all the submitters
who supported the concept of
a two-tier regime.”
“A $50,000 de minimis would
have covered 74 per cent of trusts
and would better “right-size” the
alignment of tax rates – but the
current $10,000 level will at least
prevent over-taxation of 45 per
cent of trusts.”
Inland Revenue data shows
the contrast between the number
of trusts and the income they
generate.
In the year ending 31 March
2022, 89 per cent of trusts had taxable
income significantly below
$180,000 which is the 39 per cent
tax rate income threshold for personal
income tax.
At the same time, the top 11
per cent of trusts earned 81 percent
of total trust income ($15.7
billion) before allocation.
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