Director ID….is it too late to apply?

Those of you who act as a director of a company (this includes as a corporate trustee of a superannuation fund) would know the new requirement for you to apply for a Director ID. Due to the huge deadline rush, the deadline was extended from 30 November 2022 to 14 December 2022.

However, we know there are still many directors who haven’t applied for their ID yet due to one reason or another. The ATO have advised they’re taking a reasonable approach to those directors who try to do the ‘right thing’.

If you missed the 14 December 2022 deadline, you are able to request an extension of time. If you need help with your application, please feel free to contact Linda in our office for assistance. The other alternative is to visit the ABRS Website.

How can you get one?

The fastest way to apply for your director ID is online. To understand the application process you can find each step explained on the ABRS Website

  • Set up the myGovID app on your smart device.
  • Check and gather your identification documents.
  • Use your myGovID to login into ABRS online and start your application.

Once you’ve logged in, you’ll need to verify your identity with information we have on record. You may need to contact us to request this information.

Remember, you must use information from your personal documents, not your SMSF documents.

How will having a director ID help the community?

One question we are often asked is ‘why’ do I need one and what is the ATO using them for? The ATO’s response to this is:

Having a director ID will help prevent the use of false or fraudulent director identities and identify and help eliminate director involvement in unlawful activity, such as illegal phoenix activity.

 

Author

Kim Jay