You must apply for a Director ID before the 30 November Deadline.
All Directors of a company, registered Australian body, registered foreign company or Aboriginal and Torres Strait Islander corporations are now required to obtain a Director ID.
A Director ID is a unique identifier that a Director will apply for once and keep forever, and is aimed at preventing the use of false or fraudulent Director identities.
If your small business is set up under a proprietary limited (“Pty Ltd”) structure then you are most likely a company Director. Anyone else closely involved in your business – typically a spouse, sibling, or parent – could also be a Director.
Directors of a company will appear on the company’s ASIC extract, a listing of the company details that is held with the Australian Government.
The deadline for applying for a Director ID depends on when you become a Director:
- Existing Directors have until 30 November 2022 to apply,
- From 5 April 2022, intending Directors must apply before they are appointed.
Directors need to apply for their Director ID themselves, so their identity can be verified. All information required for the identity check is your personal information (not your businesses). Your authorised tax, BAS or ASIC agent can’t apply for a Director ID on your behalf.
Australian Business Registry Services (ABRS) is responsible for administering Director ID and will provide support and guidance to Directors to assist them to understand and meet their Director ID obligation. Please visit their website for more information about applying for a Director ID.
Criminal and civil penalties (up to $13,000) can apply where an individual doesn’t comply with the Director ID requirements, for example, by:
- Failing to apply for a Director ID with the required timeframes (or if the Regulator directs);
- Intentionally apply for more than one Director ID;
- Provide a false Director ID; or
- Are actively involved in the contravention of any of the above.
If you are a client of Douglas & Harrison and need assistance with the personal information for the identity check, please contact us.
An Important Message;
While every effort has been made to provide valuable, useful information in this publication, this firm and any related suppliers or associated companies accept no responsibility or any form of liability from reliance upon or use of its contents. Any suggestions should be considered carefully within your own particular circumstances, as they are intended as general information only.