As I sit here at my desk quietly fuming over the quantum of legislation released by the IRD/Government only weeks before Christmas, and the additional compliance requirements that will arise for our clients from the changes to the QC regime (or introduction of the Look Through Company regime) and Working for Families, and the forthcoming GST amendments, to name but a few, it is a good time to take a reality check.
Sure, tax is important, and we in the industry believe we fulfil a vital role in making something that is very complex and unwieldy as user-friendly as possible for our clients (and, of course, mitigating as much as possible their respective liabilities).
However, let's get our personal trials and tribulations into context. No-one ever died of tax-related illnesses (save infected paper cuts).
Tax generally doesn't wipe out a community or an industry. In fact, the collection of tax is the basis for us, as Kiwis, to be able to assist each other in our times of need, whether at individual or community level, although we delegate that decision-making process to our politicians.
The year 2010 has been a tough one for us Kiwis.
Whether it was earthquakes, mine explosions, snowfalls, kiwifruit-destroying fungus, floods, drought, horrific accidents, GFC driven financial hardship, finance company collapses and bail-outs, plane crashes, Ponzi schemes or any number of other personal or community tragedies, our little country has been through the mill this year.
In the words of Queen Elizabeth, this has been our annus horribilis. Or, perhaps, in weatherman parlance, a one-in-a-hundred-year event (we can only hope).
Of course, it is easy to focus only on the negatives, and there have been some great things that occurred this year that lifted our collective spirits, some of which were in reaction to the tragedies. Who could forget the Kiwi can-do spirit that was so evident immediately after the Christchurch earthquake, or the incredible, heart-wrenching leadership throughout the Pike River crisis.
Sport, as a key component of the Kiwi psyche, also had a good year at international level, ranging from netball to league to rugby to rowing to many others (just don't mention the cricket!).
So, although I sat down with the intention of writing a perhaps slightly humorous open letter asking Santa for what I would consider to be a whole lot of commonsense changes to the Income Tax Act to make our lives that little bit easier, in the context of the above, that would seem a little shallow.
Accordingly, on behalf of the good people of Otago, I can only hope 2011 (and Santa) brings us a better balance of positive news, whether it be economically, socially, on the sports field (and in our stadium!) or wherever else.
In the meantime, the Sharp as Tax team at WHK wish that you all have a restful Christmas season with your families, and together we shall face 2011 with renewed enthusiasm.
• Scott Mason is the tax principal at WHK.
