There are important changes for all directors of companies that will need to be implemented.
Anyone that is a director of a company will now need a Director identification Number (Director ID).
A Director ID is a unique identifier that you will need to apply for to prevent fraudulent directors identities. You will only need to apply once, and you will keep this identifier forever (much like a Tax File Number)
Directors will only ever have one director ID. They’ll keep it forever even if they:
- change companies
- stop being a director
- change their name
- move interstate or overseas.
How to apply:
Step 1: If you don’t already have one, you will need to set up a MyGov ID – click here to set-up a MyGov ID
**Please note, MyGov ID is different to MyGov**
This is the logo to look out for!
Step 2: You will need to have the following information that the ATO knows about you to set up a Director ID:
- Your Tax File Number
- Residential address the ATO have on file
- Information from two documents to verify your identity. Example of documents you can use are:
- Bank account details
- ATO notice of assessment
- Super account details
- a dividend statement
- a Centrelink payment summary
- a PAYG payment summary
When do you need to apply for your Director ID by:
This all depends on the date you were appointed as a director. The table below gives you an idea of when you must apply by:
If you have set-up your MyGov ID and are ready to apply for your Directors ID, please click the image below to start your application!
What to do once you have your directors ID:
Send a copy of your Directors ID to your authorised tax agent. This way your ID can be added to the Company Register systems.
Alternatively, if you handle your ASIC yourself, please make contact with ASIC to supply your directors ID.
For any further information in regards to Directors ID, click here to be directed to the ABRS website.
If you have any questions, please contact our office on (03) 9762 7344
The Team @ Knox Taxation and Business Advisory