360Private

 Director Identification Number

Following the recent introduction of Director Identification Number (Director ID) measures, you will be required to register for a Directors ID if you’re a Director of a company, registered Australian body, registered foreign company or Aboriginal and Torres Strait Island corporation. The new Australian Business Registry Services (ABRS) is responsible for administering the initiative.

This Director ID is a unique identifier that will be given to each individual director, or any new directors, to verify their identity. The Director ID is a 15-digit number will assist in preventing the use of false or fraudulent identities, as well as making it easier to trace Director relationships across multiple companies.

Applications have now commenced and new and existing Directors will need to individually apply in accordance with the due dates below: -

Date of Directorship Application Date

On or before 31 October 2021

(existing & new directors)

By 30 November 2022
Between 1 November 2021 & 4th April 2022 Within 28 days of appointment
From 5th April 2022 Before Appointment

Applications are to be completed online via the Director identification number | Australian Business Registry Services (ABRS) and all applications will require a myGovID to apply.

A myGOVID is different from a myGOV account and must be set up as a pre-requisite for applying for your Directors ID. Full instructions on setting up your myGovID can be found at How to set up | myGovID. Your Tax, BAS or ASIC agent cannot apply for a Director ID on your behalf.

Please review full details at the ABRS website, or alternatively please contact your Advisor at 360Private for further discussion.

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Whether it be a query about superannuation, investments, insurance, mortgage or any other financial based questions, get 360Private to check on your financial health.

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We have relied on the Team at 360Private for accounting and financial advice for over 30 years. Their sound strategy enabled our investments to perform well even through the Global Financial Crisis and we have benefitted from their knowledge of taxation law and superannuation. On a day to day level, we are always able to get prompt replies to any accounting matters relating to our business and everything is explained in language we can understand, rather than in "accountant speak". Our children now have their own businesses too and they also rely on 360Private.

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