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The time is now to apply for your Director Identification Number

Have you applied for your Director Identification Number? The ATO is giving you until November 30, 2022 to make your application. There are penalties in place, so it’s worth getting a move on if this applies to you. 


Firstly, does this apply to you?


You will need your own Director ID if you are the director of a PTY LTD company. If you are a sole trader, this doesn’t apply to you. 


What is a Directors ID?


A director ID is a unique 15-digit identification number assigned to you (a company director) after your identity has been verified by the Australian Business Registry Services (ABRS). By law, all company directors must apply for their unique director ID. Once assigned to you, that unique Director ID remains with you forever. You won’t have to apply for another Director ID if you become a director of other corporations or companies.

The Director ID is designed to:

 

  • Prevent the use of false director identities
  • Increase director accountability
  • Help regulators trace directors’ relationships with companies
  • Identify and eliminate the involvement of directors in illegal activities.

 

When to apply for a Director ID?

 

When you apply depends on when you were appointed as a company director.

 

  • If you were appointed as a company director before or on October 31, 2021, you are required to apply for your Director ID by November 30, 2022.
  • If you intend to become a director, you must first apply for your Director ID before being appointed (came into effect on April 5, 2022).
  • From November 1, 2020, all directors must have their Director ID before they are appointed.
  • Those appointed as new directors between November 1, 2021, and April 4, 2022, had 28 days (from the day of their appointment) to apply for their Director ID.

 

How to apply for your Director ID

 

Apply via the myGovID app for free. Head to this link here and follow the prompts. 

Need a hand with this or your bookkeeping?


Feel free to contact us below if you have questions about your Director ID. We’ve helped many of our clients through the process and would be happy to help you. 


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