Recent legislation has introduced new obligations for company directors requiring them to obtain a personal director identification number (‘Director ID’). 

This is particularly important as failure to comply with these new Director ID requirements may result in both civil and criminal penalties.

What is a Director ID?

A Director ID is a unique (15-digit) identifier that a director will keep forever (even if they cease being a director).  This additional layer of identification verification has been primarily introduced by the Government to prevent the appointment of fictitious directors, and facilitate traceability of an individual director’s profile and their relationships with companies over time.

You will need to personally apply for a Director ID if you are an appointed company director (or even an alternative director).  Note this also includes where you are a director of a company acting as a trustee (such as the corporate trustee of your SMSF or family trust). 

Importantly, while our office can help you in understanding your new Director ID obligations, we are not permitted to make the application on your behalf (although we are happy to assist if and when required).

When do I need to apply for a Director ID?

When you must apply for a Director ID depends on the date you became a director (as outlined below).

How do I apply for a Director ID?

Each individual director must apply for their own Director ID directly, to verify their identity via the ABRS website (abrs.gov.au), where you will click on the heading Apply for your Director ID.

We were thrilled to hear that one of our clients was recently selected to be part of a national ad campaign for accounting software brand xero.

The radio was on mainstream FM stations in the cities, the posters were put up all around major train stations and a run of adverts in the state papers like herald and Sydney morning herald etc.

Dan said, “It was quite a hit with a broad coverage, at one stage people were sending me photos of the posters from all over Australia and quite amused to hear me on the radio”.