A Directors ID For Australian Directors

A Directors ID For Australian Directors

On 30 November 2022, all Australian company directors were required by the ATO to apply for a director’s ID. The application is free and is available to all directors in and outside Australia.

Directors are required to process the application by themselves and not through any other person since it will need to verify the director of its identity.

The director ID is a unique 15-digit identifier. The application of company ID is only done once and is to be used for a lifetime.

The fastest way to apply is by visiting Australian Business Registry Services (ABRS) website which will issue a director ID straightaway once the application is complete.

The reason behind this new requirement for directors’ ID is to help the government to take action against illegal activity. For example, a practice that is called phoenix activity, where business owners illegally go into liquidation and transfer assets to a new company to avoid paying its debts, including taxes, creditors, and employees.

The director ID can be viewed, updated, and managed online at any time. It confirms the person’s identity and shows which companies he or she is affiliated.

The director ID is a new requirement for all company directors, aimed to help fight illegal activity by making it easier to trace directors’ relationships with companies.

You need to get a directors ID if you are a director of:

  • a company
  • a registered Australian body
  • registered foreign company
  • Aboriginal and Torres Strait Islander corporation

Directors of corporations under the CATSI Act, have an additional 12 months up to 30 November 2023 to apply for a director ID.

The ABRS will not apply compliance resources to determine whether individuals met their director ID obligations by 30 November 2022 if they apply for a director ID by 14 December 2022,

 

For more information about this. Visit or call us.

 

Yan (Jenny) Qi CA

Founder of Progress CA Pty Ltd

Tel. no. 0403 050 779

Email: info@progressca.com.au

Website: www.progressca.com.au