The Modernising Business Program (MBR) was introduced in the 2020 Federal Budget and it will establish the
new Australian Business Registry Services (ABRS) which is going to simplify how you register, view and
maintain your business information with the government.
As part of the MBR, the ABRS will start rolling out in 2021 and be fully implemented by 2024. The ARBS will combine many services by the 2024 deadline including:
- the companies registered
- business names register
- Australian Business Numbers
- professional & historical registers
The first act of the newly established Centre will be the introduction of the director identification number (director ID) initiative. To learn more about some of the reasons behind these initiatives please read our previous article “New Director ID’s and What You Need to Know” here
What is a Director Identification Number?
A director identification number is a unique 15-digit identifier that an individual must apply for if they are they
are a currently a director of a company or they intend to be. The director ID only needs to be applied for once
and it is kept forever. If you are a director of multiple companies you will use the same director ID for all
companies.
Who needs to apply?
All directors of a company, registered Australian body, registered foreign company or Aboriginal and Torres
Strait Islander corporation will need a director ID. This includes directors of corporate trustees, e.g., self-managed super funds.
When you were appointed as a director will determine the deadline for the director
When do I need to apply?
When you were appointed as a director will determine the deadline for the director
| Period of Appointment as a Director | Application Deadline |
| Prior to 1 November 2021 | 30 November 2022 |
| Between 1 November 2021 and 4 April 2022 | Within 28 days of appointment |
| From 5 April 2022 | Before appointment |
How do I apply?
Director ID applications can be made online using the ‘myGovID’ app on your smart phone to verify your identity. If you are unable to setup the ‘myGovID’ app you can apply either by phone or with a paper form. You will need the following information when applying for a director ID:
- Your tax file number
- Residential address as held by the ATO
- Information from two documents to verify your identity, e.g., bank account details, ATO notice of assessment or super account details
The following link provides detailed information on how to apply for your director ID:
https://www.abrs.gov.au/director-identification-number/apply-director-identification-number
Further information can be found on these websites.
https://www.abrs.gov.au/director-identification-number/apply-director-identification-number
https://www.abrs.gov.au/director-identification-number
If you would like to discuss anything above in this article please contact us on 49 264155 or email admin@tspaccountants.com.au. Want to be updated about these and other changes? Be the first to know sign up to our newsletter.