Important information for company directors
As a company director, under new legislation, you are now required to obtain a director identification number (director ID).
A director ID is a unique identifier that you keep forever. It will help prevent the use of false or fraudulent director identities. It's free to apply and you only need to apply once.
If you are a company director appointed prior to 1 November 2021, you must obtain your director ID by 30 November 2022. New directors should apply before they are appointed.
The fastest way to get a director ID is to apply online using the myGovID app. If you can't get a myGovID, the best way to apply for a director ID will depend on your situation. To find out more click on the link below to the ABRS website. ABRS is a new service, managed by the Australian Taxation Office (ATO).
You must apply for a director ID yourself. No one can apply for you. The reason for this is you need to prove your identity when you apply.
Penalties may be applicable if you don't apply for a director ID.
Once you have your director ID, keep it safe until you need to use it. It can be shared with your accountant, company secretary, ASIC registered agent or tax professional.
You don't need to provide your director ID to ASIC unless otherwise directed. When the ASIC companies register is transitioned to Australian Business Registry Services (ABRS) in the future, your director ID will need to be linked to companies that you are a director of.
If you wish to discuss any of the above information please contact our office.