After snoozing my alarm to keep me in bed for as long as possible, I get up, shower, have some breakfast and catch my train into work. On my train ride, I indulge myself in premier league highlights from earlier that morning. Sometimes if I’m lucky, and by that mean wake up on time, I’ll be able to get a ride into the city with dad.
I have a big day ahead filled with a client and internal meetings. I get to my desk and after chatting with some of the team, including Christine who was assigned as my buddy since I joined RSM to show me the ropes. I check my emails and update my workflow to prioritise various tasks that I need to complete over the course of the day.
Coffee time! There are plenty of coffee machines over the floors of our office to keep me functioning, but nothing beats a long macchiato from the in-house barista downstairs. Today I’m catching up with some of my Audit friends, who I recently met on RSM’s 2020 Grad Week. During this week all grads nationally were flown out to Sydney, giving us the opportunity to network with each other and learn more about the firm. Today was Kristin’s shout for coffee!
It’s time for our weekly team meeting. In this meeting, the team goes through their current client list and updates each other on the progress, status and strategy of the work required to be undertaken, allowing us to leverage off feedback and advice from each other. The meeting also gives us a chance to see if any members are flooded with work and if anyone has work capacity, allowing us to evenly distribute work across the team.
Once our team meeting has finished, I get back to my desk and continue working on a R&D registration for one of my clients. This involves reviewing technical documents provided by the client in order to develop a write-up, detailing the eligible projects that were undertaken by the client during the previous financial year. During this process, I’m required to closely follow and interpret the legislated criteria establishing the various eligibility requirements for the client’s project activities.
Finally! Lunchtime! I’m still in agony from yesterday’s session at the gym, which is paid for by RSM, so I’ve decided to have lunch with some of the team in our staff hub. Lunch always ends with the team challenging each other at the ping pong table. The stakes are high, but Sam and I are victorious yet again! To celebrate, we grab a cold refreshment out of our complimentary drinks fridge.
I’m back at my desk now and it’s excel time. I’m currently analysing various financial reports provided from a client, including their P&L, Balance sheet, General Ledger, Tax depreciation schedule and payroll report to assess what transactions have been incurred on their R&D projects, that can be claimed as part of their R&D expenditure. By following the legislation closely, I’m able to calculate the total amount of notional R&D deductions and can determine the amount of R&D tax offset claimable for the client. I’m stuck on interpreting a particular provision and applying it to the client, so I head over to Aaron’s desk, who is one of the senior managers in my team and seek advice from him. As a result, my interpretation issue is resolved and I’m able to send my workings to our Partner for review.
Time to prepare for my client meeting. I print out the existing client reports and meet members of the team at the lifts that will be attending the meeting with me. Once we arrive to the client’s office and meet with their team members, I hand out the reports and make notes as we discuss our initial findings, strategy and various technical and financial details that may be incorporated into the client’s claim.
Its quiz night! I wrap up my day by sending out a few emails and completing my timesheets. The tax team head out to one of the bars in the city for our weekly quiz night. Fingers crossed we can get first prize again!