The Answer is YES if you are a company director or intend to be one soon.
ATO and ABRS are rolling out Director Identification Numbers to ALL Company Directors. It is compulsory for ALL Company Directors to have a Director ID by 30 Nov 2022.
A Director Identification Number (Director ID or DIN) is a unique identifier you will keep forever. It will help to prevent the use of false or fraudulent director identities.
The main reason that ATO are implementing this change is to ensure each director is a legitimate person AND that they consent to acting as a director. There are many instances of fake, dead or false people being signed up as directors by dodgy operators. Director ID will eliminate this.
This link with have multiple tabs where you can learn more about.;
- What is Director ID
- Who needs to apply
- When you must be registered by
- How to apply for your Director ID
- How to verify your identity
- Managing your Director ID
What to do next:
- Apply for your Director ID – CLICK HERE TO APPLY. We can’t do this for you as you need to go through an identification process using MyGovID.
- Let us know your Director ID – Once you have your Director identification number (a 15 digit number). Once received we will update our database, as well as your company profile recorded with ASIC.
- Keep this number private – like your TFN, your DIN is to be kept private. Your DIN should only be shared with your tax and ASIC agent or ATO.
Apply Now is our recommendation. We will send a few reminders before the due date and we look forward to receiving your Director ID.
How Director ID will help honest businesses
Director ID is the first service delivered on the new ABRS and will help to:
› prevent the use of false and fraudulent director identities
› make it easier for external administrators and regulators to trace directors’ relationships with companies over time
› identify and eliminate director involvement in unlawful activity
For more information about ABRS and director ID, visit abrs.gov.au/about-us.