From 1 November 2021, Australian company directors must apply for a unique Director Identification Number (DIN) through the myGovID app. The application is open until 30 November 2022. Those who will fail to apply before the deadline may have to pay over $1.1 million in fines for non-compliance.

 

What is a Director Identification Number (DIN)?

A DIN is a 15-digit identifier given to all company directors in Australia. This unique identifier aims to prevent the use of false or fraudulent director identities. Through this, the government can combat illegal phoenix activities, which are rampant across the country.

Illegal phoenix activities happen when directors try to escape their obligations with creditors by abandoning their debt-ridden company and starting a new one.

 

When should directors apply?

The target date for applications depends on the appointment date of the director. Here are the key dates provided by the Australian Business Registry Services (ABRS).

Take note: The guidance provided by ABRS states that directors must apply for their own director ID and no one can apply for it on their behalf.

 

Appointment Date

When to Apply

On or before 31 October 2021 On or before November 2022
Between 1 November 2021 and 4 April 2022 Within 28 days of the appointment
From 5 April 2022 Before the appointment
For directors of indigenous corporations under the Corporations (Aboriginal and Torres Strait Islander) Act 2006 (CATSI Act), take note of the following dates:
On or before 31 October 2022 On or before November 2023
From 1 November 2022 Before the appointment

 

How to apply 

The best way to get a director ID is by applying online using the myGovID app. Once the app is set up, directors must prepare the following information:

  • tax file number (TFN)
  • the director’s residential address, as recorded on ATO
  • documents to verify the identity, such as bank account details and an ATO Notice of Assessment.

For further guidance about DIN, visit the official website of ABRS.

 

Let us help

If you need help with your tax and compliance needs, our accountants at ABJ Solutions can lend you a hand. We can help you stay on top of all your obligations and maximise all of your tax benefits. Contact us today for more information about our services or get your free financial health check to understand the current financial status of your business.