The Long Way Home - Chapter 10 - Gladstone Day 8

Another Monday

I still from time to time have nightmares about having to get ready for school or needing to get an assignment done and delivered to the staging point in Sydney for transportation to Bathurst to be lodged on time.

Last night was no different. I woke up with a start, thinking I had slept in. It was still dark much like it would have been during the winter on the south west slopes of New South Wales. So real was the dream, I even made it to the laptop before reality set in.

The assignment due, had, in my dream, been particularly hard to complete. The law of taxation as far as it is related to finance. There was lots of angst around its completion and now the chance to not have it received on time was causing stress.

Doing tertiary education remotely has its pros and cons. Mitchell College of Advanced Education (now Sturt University) had the campus to which I was attached at Bathurst some 200 kilometers west of Sydney. What it did allow was the chance to work at your own pace – to a point. Rather than regimented to “night school” and regular classes, the semester’s work would come in an envelope broken down into dates assignments were due.

Each six months a week of intensive compulsory classes in Bathurst would take up half of my annual leave allotment. These periods not only allowed face to face time with lecturers, it also allowed interaction with other students. From these weeks, several important relationships were formed creating study groups which assisted in progression to the degree.

The TAFE experience of three and four nights a week was completely different. For one the TAFE course was much less stressful. The early years, with the backing of Bruce Houston and his staff, and the regularity of attendance, fell into place easily. The only stress was the expectation that the Taxation subject resulted in an A Grade. I managed and A+ and was rewarded accordingly with the issue of a Tax Agent Certificate meaning I could charge clients for the preparation of income tax returns and a significant cash bonus from my employer.

University, especially remotely, was a much different experience. Adding to the increasing workload of seniority with the firm was this envelope of work, the chance to play football now night’s came free and allowed attendance at training sessions. The stress of the envelope that needed to be attended to, just grew. 

The accounting subjects, especially those dealing with reporting were easy. They were only an extension of the work I was performing not only at a “domestic” level for small business but also for public reporting in our audit jobs. The law subjects were similarly easy, especially taxation, where I already had a Tax Agents Certificate were also less difficult. Our taxation lecturer Mr Morrow had a photographic memory and during a face to face lecture I was slightly taken aback arguing a point of technicality, only to have him place his hand on his forehead, lean back and quote the relevant law and argue the point against my assertions.

I thoroughly enjoyed arguing the point with him because although he could read the law from his mind, and quote it back to you, he was much more interested in the interpretation arguments as opposed to what the words on the paper might say. The true “argument” though, must come from a strong base – a very good lesson to learn as he continually grew us back to the law.

In essence the true value of a tax accountant is that ability to argue and interpret (not necessarily in that order). In my view too many accountants never delve to where they are most wanted, happy to sit on the processing aspects and charging for their time. It is for them a production line all about output rather than true “fee for service”. 

The public believe we accountants are “professionals” (whatever that might mean), and the level of our fees might suggest that is the case, but in many aspects, accounting firms (and I suspect I would cover the vast majority of firms including the likes of ITP and H&R Block etc) are only “sausage factories” dealing with the deadlines of their clients. The angst comes when clients feel they are left behind when that dreaded rival advisor – the mate at the pub – suggests they might be “missing out”.

Taxation and accounting cover vast arenas and whilst the word accountant is not embedded in statute like say doctor or lawyer, much like the suburban lawyer an accountant is expected to know everything accounting which then suggests taxation. It is not possible and many times I have referred clients to experts better equipped to understand and advise on their situations, but still the questions come. Everything from social security laws and handouts to multinational taxation laws and treaties to international structural requirements. It’s not possible – yet the expectation is because you hold out the “accountant” shingle – by “definition” you are an expert. 

Enough said. I built a firm around four basic premises. Those premises seemed to the general public to set the firm apart somewhat from others and many took to mirroring our stance. 

For me it was a matter of just doing what seemed to be right. If I was to serve my clients then it must be in the most appropriate manner possible. To me, that meant, what the advent of GST, cancelling all staff holidays for the July and August period to ensure the June BAS was a reflection of the years transactions, reconciling everything for the year, marrying it to the financial statements (which if prepared meant tax returns could be also be drafted) and allowing clients to fully understand and budget accordingly the payment of liabilities.

Yes that put enormous pressure on the firm in those two months, yes it meant for me long days, seven days per week and yes we did more than 50% of our turnover in that period but it meant the clients (the sole purpose of the existence of the firm) were looked after – as they should be. 

To me, one of the worst things the Australian Taxation Office does is allow extensions for accountants to lodge returns for clients. Whilst I understand it is not possible to do a years worth of work within the deadlines provided for the general public, nor could cash flows requirements of a business really suit it, the lengthening of time to lodge actually paces higher risk to collection as the complacent client simply lets things slide to the last possible moment. Then with all the indignation they can find, howl indignantly at any liability they might incur.

For me, ensuring the most poignant of information, relevant to the survival of a business, must be in the hands of the business owner as soon as possible, is paramount. Ergo the huge effort in the July and August periods to complete as much as possible for not only the payment of the BAS and the understanding of further liabilities but perhaps receiving refunds as early as possible.

Doing things right, the way they should be, the true essence of living. Too many seem to want to cut corners or wonder what is in it for them. This and the entitlement mentality will eventually ruin the world. 

Anarchy is already starting to take hold as the “writhing masses” are neglected for the loudmouthed objectors. Worse is the adherence to the loudmouths by the writhing masses in  the absence of an alternative self leveling opinion. Whilst we are a long way from George Orwell’s 1984 community the mind police are far behind the outrageousness of social media.

Without any shred of hard evidence you can go on Social Media and voice your opinion, that is an inalienable right of course, but to go onto Social Media simply shouting down alternatives sometimes before they are voiced or without rebuke reeks of the times of history when the path of men hellbent on personal agenda achievement saw millions simply left in their wake.

Wow and all that from a dream on a restless night after a day of exploring the ruins of the exploits of those out to make their fortune.

We need to get out today. Turtle Beach and then Miriam Vale look like a good round trip. 

Turtle Beach is a hamlet much like Smiths Lake but without the commercialisation, or so it seems because other than a very small general store all we were able to find as we wandered the streets were houses, holiday homes mostly. Many of them had tractors attached to boat trailers. Old grey fergie’s, newer International and Ford tractors seem the norm as opposed to the exception.

We don’t stay long. We visit the boat ramp, take some pictures and head off towards the second stop.

Miriam Vale is a small town on the highway south from Gladstone. As we do our wandering investigation we find roadworks blocking our way. There is no real reason for us being stopped, we are heading off the road being worked on. But we are in the line and have to wait. 

In the main part of town there are several iconic shops, a testament to the age of the town across the road from a lovely park. We walk the park, visiting the explanatory signs and snapping pictures of the old railway station, fig trees and play equipment. 

I had strategically parked the Cruiser in front of the local hotel and given it was that time of day, we decided to eat there. Good pub meals can make or break a visit to a town. The welcome is warm and inviting, the menu particularly “pub” normal and the food most enjoyable. The entire experience is as memorable as it should be.

We head back to Gladstone via the Woolworths as we need some provisions. Whilst there I check some Powerball rockets we have purchased over the last few months. Now Powerball is an Australian lottery but the local agents are unable to check two of the three tickets because they were issued in other states. Utter stupidity, especially where one was a gift from one of my family. In order to collect any winnings, I need to have it checked in the state of issue.

A really easy operation in these days of Covid.

Groceries away its time for a nanna nap and then up to make a batch of my version of tabouli. When in Mackay I had the knives sharpened by one of Darryls, my cousin’s friends. Yes they are sharp alright. I slice right into my index finger without issue. For a short time I have to wrap my finger in a paper towel and work around it.

There will be no dinner tonight as lunch has covered all the intake required for the day.