Understanding Australia’s Director Identification Number
Image from: https://www.seeton.com.au/understanding-australias-director-identification-number/

Understanding Australia’s Director Identification Number

I‘m always on the lookout for articles with the potential to positively change a business. What’s your take on the following points I came across recently?

In its 2020 Budget Digital Business Plan, the Australian government announced the full implementation of the Modernising Business Registers (MBR) program. The program is designed to both establish the new Australian Business Registry Services (ABRS), and enhance how businesses register and manage their information with the government.

Although the ABRS rolls out progressively between 2021 and 2024, one of the immediate changes is that business directors must obtain a director identification number.

Here is what you need to know.

1. Director identification number definition

A director identification number is a unique number you as a director apply for once and keep forever. It’s designed to prevent the false or fraudulent use of your identity.

The number is 15 digits long and is allocated to any director—or someone who plans to become a director—who has verified their identity with the ABRS. All Australian director identification numbers start with the digits 036 (Australia’s country code under International Standard ISO 3166), and end with an 11-digit number plus one digit designed for error detection.

This ID number is yours forever, even if you change companies, stop being a director, change your name or move overseas.

2. Why do you need a director ID

Verifying your identity with the ABRS helps prevent fraudulent or false IDs from being used, which makes it easier for regulators to trace directors’ relationships with companies over time and identify and eliminate unlawful director activity. It safeguards your identity and reduces the chance of identity fraud.

Do you need more detail on this subject? Head on over to the full article. Click?here?for more ideas and perspectives. Afterward, why not drop me an email to share your thoughts at [email protected]


要查看或添加评论,请登录

Sue Ng的更多文章

  • Using Technology to Grow

    Using Technology to Grow

    I’m always happy to pass on great info..

  • How Much Cash Does My Business Need?

    How Much Cash Does My Business Need?

    I’m always happy to pass on great info like this! I’ve included a few snippets below lifted from the full article. Your…

  • How to Scale Your Business With Minimal Effort

    How to Scale Your Business With Minimal Effort

    I’m always happy to pass on great info like this! I’ve included a few snippets below lifted from the full article. If…

  • 4 Ways Small Start-ups Can Take On Established Competitors

    4 Ways Small Start-ups Can Take On Established Competitors

    I’m always happy to pass on great info..

  • Tax Dim Sum

    Tax Dim Sum

    An article worth reading and surely you will get a lot out of it. Send me your thoughts.

  • Tax Tit-Bits

    Tax Tit-Bits

    Fuel Tax Credit Rate Hike Fuel tax credit rates increased on 2 August 2021 in line with fuel excise indexation. If you…

  • 5 Financial Tips for Your 30s

    5 Financial Tips for Your 30s

    An article worth reading and surely you will get a lot out of it. Send me your thoughts.

    1 条评论
  • Growing Pains Solutions

    Growing Pains Solutions

    An article worth reading and surely you will get a lot out of. Send me your thoughts.

  • Tax Tit-bits

    Tax Tit-bits

    Here is a great article that is worth reading. Income Statements can be found in myGov in July Since Single Touch…

  • Tax Implications of Cryptocurrency (AU)

    Tax Implications of Cryptocurrency (AU)

    Here is a great article that is worth reading. With cryptocurrencies gaining notoriety, many people are unclear on how…

社区洞察

其他会员也浏览了