🚨🍃 DIRECTOR ID 🍃🚨

Changes are coming to ASIC & the ATO - they're Modernising the Business Registers. There are a number of changes for businesses in Australia, but the one we're looking at today is the roll out of the Director ID.

What is the Director ID?

Director identification number (director ID) is a unique identifier you need to apply for once and will keep forever.
You must apply for your director ID yourself, so the ATO can verify your identity. No one can apply on your behalf.
Your authorised agent can't apply for a director ID for you. They can help you understand the new requirement and if you need to apply and when.
The director ID application will be available from November 2021 at abrs.gov.au. To log in to ABRS online you'll need to use the myGovID app, set to a Standard or Strong identity strength. If you haven't already, you can set up your myGovID now.

Who needs a Director ID?

You need a director ID if you’re an eligible officer of:
-a company, a registered Australian body or a registered foreign company under the Corporations Act 2001 (Corporations Act)
-an Aboriginal and Torres Strait Islander corporation registered under the Corporations (Aboriginal and Torres Strait Islander) Act 2006 (CATSI Act).
An eligible officer is a person who is appointed as:
-a director
-an alternate director who is acting in that capacity.
Directors must apply for their director ID themselves because they need to verify their identity. No one can apply on their behalf.
(Information from ato.gov.au "Modernising Business Registers" and abrs.gov.au "Director Identifcation Number")

With a November roll out date, there's not a lot of time until this is up and running!

If you need further clarification, or help setting up your Director ID, please get in contact with us.