Skip to content

What's New

arrowAsset 1@3x

Business Planning Workshop Register now In this 90-minute workshop,…

Read More
arrowAsset 1@3x

Register Now Preview modal- Financial markets are moving and…

Read More
arrowAsset 1@3x

Article by Matt Sherwood, Head of Investment Strategy, Multi...

Read More

Upcoming Events

Cashflow Crunch-ed! Workshop

Cashflow Crunch-ed! Workshop: Where does the cash go, and how to find it in your business faster

Wed, 1 May 2024

SMSF Seminar - New rules, new strategies. What do I do?

Self-Managed Superannuation Seminar – New rules, new strategies. What do I do?

Wed, 10 April 2024

Sign up to b-Mail!

Want to hear the latest news as it happens? Simply fill out the form below and we'll send you regular updates so you can stay in the loop.

Time is running out to register for mandatory Director ID numbers Posted on October 10, 2022

director id

Almost two thirds, or 1.6 million company directors across Australia have not yet applied for their Director ID number. The ATO’s new registration scheme has a deadline of 30 November 2022 for directors appointed on or before 31 October 2021, so it is absolutely critical that directors of companies and SMSFs avoid having their head in the sand on this one.

The scheme has been introduced by the ATO to prevent phoenix and fraudulent activity by directors. If a director commits fraud under one company, a Director ID will prevent that director from setting up a new company and committing the same crime.

Failure to have a Director ID by the deadline, or failure to apply when directed by the registrar, can carry a maximum criminal penalty of $13,200 or up to $1,100,000 under civil law.

Who needs one?

You need a Director ID if you direct a:

  • company
  • Aboriginal and Torres Strait Islander corporation
  • corporate trustee, for example, of a self-managed super fund
  • charity or not-for-profit organisation that is a company or Aboriginal and Torres Strait Islander corporation
  • registered Australian body, for example, an incorporated association that is registered with the Australian Securities and Investments Commission (ASIC) and trades outside the state or territory in which it is incorporated
  • foreign company registered with ASIC and carrying on business in Australia (regardless of where you live).

How to get one?

Your accountant can help you to decide if you need one and walk you through the process, however they cannot apply on your behalf. All Directors need to apply in person. The first thing to do is check that you can access your personal MyGovID and that you have your personal identification documents handy.

If you anticipate difficulty in meeting the deadline of 30 November, you need to let us know ASAP as communication with the Australian Business Registry Services is critical in avoiding penalties: [email protected]

ac-logo-whiteArtboard 1@3x

Discover the difference that the right advice can make

Get in touch with our team today and learn how you and your business can grow to the next level. 

be better off.

talk to us Discover the difference that the right advice can make

Get in touch with our team today and learn how you and your business can grow to the next level. From structuring to sustainability, we'll help you reach your financial goals and live the lifestyle you deserve.

be better off.