Director ID’s – How to avoid a $1.1 million fine!

Ok, ok, we realise that all sounds a bit dramatic however we were shocked to learn that this is the penalty for Directors who don’t comply with the new Director ID rules set to come in later this year.

Here’s the facts:

  • ALL Directors must have a Director ID by 30/11/2022
  • Applications open 1/11/2021
  • New Directors appointed between 1/11/2021 and 5/4/2022 will have 28 days to apply for their Director ID after they are appointed as a Company Director
  • From 5/4/2022 must have their Director ID in place BEFORE they are appointed as a company Director

Have a read of our article from our August newsletter for more details: Mandatory Director ID numbers are coming

The ability to apply for your Director ID will be opened up from 1/11/2022.

To apply for a Director ID you will need a myGovID.

If you don’t already have a myGovID setup we strongly encourage you to do this. 

The Government are pushing to move many of their interactions to digital so it is becoming increasingly important that you have both your myGovID and Business Portal all setup.

How to setup your myGovID

How to setup your ATO Business Portal

If you are unable to get a myGovID then you will have two other options which unfortunately we expect will take a chunk of your time:

  • Apply by phone
  • Apply with a paper form

Details of these options are not yet available.

As your accountant, we will be unable to apply directly for your Director ID for you although we are here to help.  We’ve helped many of our clients to move online in the last 12 months so we are ready to help if you need it.

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