Question: Adapting to change in technology and work organsation, within a timely manner Scenario: Today is 1 March 2021 and your workplace is getting ready forSingle

Adapting to change in technology and work organsation, within a timely manner

Scenario: Today is 1 March 2021 and your workplace is getting ready forSingle Touch Payroll (STP). Your workplace is a small family business of just 8 employees where all employees are members of the same family ("closely held employees"). As such, up until now, your workplace has been exempt from the STP deadline. However, from 1 July 2021 all workplaces must comply.

Single Touch Payroll (STP) is a change to the way you report payroll information to the ATO. This is a change for your workplace from a manual reporting system to a digital reporting system.

Review the Australian Taxation Office (ATO) website on what your workplace needs to do to get ready to adapt to the changes in technology and work organisation, within a timely manner.

  1. Complete the table below, identifying the key procedures and timeframes that are required for your workplace to get ready to implement Single Touch Payroll within a 3-month timeframe. Ensure you describe how, and include in your procedure, your regular review of reporting system to ensure it is compliant and up to date with current and relevant legislation and technologies.
Preparation for Single Touch Payroll

No.

Procedure

Timeframe

Start Date

End Date

b) Describe how and include in your procedure your regular review of reporting system to ensure it is compliant up to date with current and relevant legislation and technologies.

c) What would you do if you receive a high priority request while you were preparing your procedure and researching technologies to implement Single Touch Payroll?

d) What support will you provide to the other team members yet make sure your workload is also completed?

e) When do you think you should next review your Single Touch Payroll system? And how often should you review and adapt it?

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!