The ATO have announced a 14 day extension for Directors to get their Director ID numbers.
A Director ID is a unique identification number assigned to a director. It only needs to be applied for once and is valid indefinitely. You will need a Director Identification Number (Director ID) if you are:
- A director of a company.
- A registered foreign company or Australian body.
- Directors of SMSF corporate trustees, that is, anyone with a SMSF that currently has a corporate trustee or will move to a corporate trustee in the future.
A sole trader does not need a director ID.
What are the deadlines?
How to apply for a Director ID?
You need to personally apply for your Director ID as it requires personal identification verification. There is no cost to apply. Here are the steps you will need to follow:
Step 1 – Set up myGovID
The myGovID is not the same as myGov. If you don’t already have a myGovID you will need to set this up. This is done by downloading the myGovID app and verifying your identity.
You will need at least 2 of the following:
- driver’s licence or learner’s permit
- passport (not more than 3 years expired)
- birth certificate
- citizenship certificate
- Medicare card
- visa (using your foreign passport)
- ImmiCard.
Step 2 – Gather your documents
In addition to your myGovID, to apply online for your Director ID, you will need to have information the ATO knows about you. This information must relate to you, personally, rather than to the company, registered Australian body, or registered foreign company of which you are a director.
You will need:
- your tax file number (TFN)
- your residential address as held by the ATO
- information from 2 documents to verify your identity.
Examples of the documents you can use include:
- bank account details
- an ATO notice of assessment
- APRA fund account details
- a dividend statement
- a Centrelink payment summary
- a PAYG payment summary (this is different to your income statement or your PAYG instalment activity statement).
Step 3 – Complete your application
Log into the ABRS online using your myGovID – https://mygovid.gov.au/AuthSpa.UI/index.html#login
Further information on the application process can be found on the ABRS website: https://www.abrs.gov.au/director-identification-number/apply-director-identification-number
What do I do with my Director ID?
Once you have successfully registered and received your Director ID, make a note of it and keep it safe.
You should also submit the Director ID to your accountant. For TAG clients, please contact us on 9886 0800 or email team@tagfinancial.com.au
Questions?
If you have any questions, please contact your TAG advisor on 9886 0800 or via email.
Disclaimer: The information contained is general in nature. Professional advice should be sought before acting on any aspect on this page. Financial planning services provided by TAG Financial Advisors Pty Ltd (ABN 77 154 205 017 AFSL 415632), a wholly owned subsidiary of TAG Financial Services Pty Ltd (ABN 67 075 374 686). Copyright 2021. Please do not reproduce without the expressed written consent of the author.