Are you a director of a company or are you going to be one in the future? Then you better get your Director ID. The purpose behind the Commonwealth Business Registry Service’s induction of the Director ID is to:
- Prevent the use of fraudulent director identities
- To assist external administrators and regulators to trace director relationships with companies over time
- To identify and eliminate director involvement in unlawful activity, for instance illegal phoenix activity.
A Director ID is a 15-digit identifier which all directors of a company must obtain one. Once you have obtained one, it will be yours forever, regardless if you stop being a company director. The fastest way to apply for your own Director ID is online via the myGovID app. It is important to note that myGovID is MyGov.
It’s free to obtain and only the director themselves can apply. Existing company directors must obtain their Director ID before 30 November 2022. A director appointed between 1 November 2021 & 4 April 2022 must obtain their Director ID within 28 days of being appointment and from the 5 April, new directors must obtain their Director ID before being appointment as a director.
At this stage the Australian Taxation Office does not require you to provide it to them, however, the recommendation is to keep it safe and provide to your accountant, taxation professional, or company secretary and your ASIC registered agent.
Welsh Tax has the facilities to safe keep your Director ID 15-digit identifier, once you have obtained it, please get in touch with us via [email protected]