What is a Director’s Identification Number?
From November 2021, applications will open for directors to apply for a new Director’s Identification Number (director ID). Much like a tax-file number, a director ID will follow directors for life.
How does it affect you?
If you’re a director, or plan to become a director this will affect you. It’s compulsory to have a director ID, but whether you’re already a director or not will impact your timeline for application. To check the deadline for application, visit the ABRS website here. Importantly, if you have been a director since on or before the 31 October, you must apply for a director ID by 30 November 2022. To apply, you’ll need to head to the new Australian Business Registry Services (ABRS) and use your myGovID app to login, meaning your lawyer or other business advisor can’t apply for you. You can also apply via telephone.
What do you need?
You’re required to verify your identify as part of the process, which means that you’ll need to have the following information ready on hand:
your tax file number (TFN)
your residential address as held by the ATO
information from two documents to verify your identity.
Examples of the documents you can use include:
bank account details
an ATO notice of assessment
super account details
a dividend statement
a Centrelink payment summary
a PAYG payment summary (this is different to your income statement, and/or your PAYG instalment activity statement).
For more information, visit the Australian Taxation Office website, here.