Existing company directors will soon be asked to verify their identity and will be required to apply for a Director Identification Number (Director ID) by 30 November 2022.
About Director IDs:
A Director ID is a unique identifier you require as a director and will keep forever. The Government expects the Director ID regime will help to prevent illegal phoenixing by ensuring directors can be traced across companies, while also preventing the use of false or fictitious identities.
All directors need to apply for their own Director ID and will be required to produce their myGovID alongside two identity documents from a list, including their bank account details, super account details, ATO Notice of Assessment, a Dividend Statement, a Centrelink Payment Summary or a PAYG Payment Summary. The fastest way to do this is online and should take less than 10 minutes.
You can start applying for your Director ID from November 2021. See the table below for when your Director ID Application is required.
Once you have received your Director ID, you will need to pass this onto your company secretary or authorised agent of the company.
When Do You Need To Apply?
|Date of Director’s Appointment||Deadline for Director ID Application|
|On or before 31 October 2021||30 November 2022|
|Between 1 November 2021 and 4 April 2022||Within 28 days of appointment|
|From 5 April 2022||Before appointment|
Find out more about the Director ID regime on the new ABRS website: https://www.abrs.gov.au/director-identification-number
If you need any assistance or would like further information about the new Director IDs, please do not hesitate to contact the Halpin Partners team on 07 4052 0800.