Australian Business Registry Services (ABRS) will be introducing and maintaining the Director Identification Number as of 1 November 2021.
What is a Director Identification Number?
The Director Identification Number (Director ID) is a 15 digit unique identifier that will help prevent the use of false or fraudulent director identities with the new registry services of the ABRS. This will make it easier to trace director relationships across companies and help identify and eliminate involvement in illegal activity such as illegal phoenix activity.
What you need to do as of 1 November 2021?
Individuals who are currently a director or will be acting as a director in the future must apply for a Director ID based on the transitional arrangements specified in the table below:
David McKellar is a Chartered Accountant and Director of Allied Business Accountants, an accounting firm specialising in providing strategic advice and taxation services to business owners, investors and Self Managed Superannuation Funds.