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Are you a company director? Make sure you have your Director Identification Number in time!

You need a Director Identification Number (DIN) if you are the eligible officer (director or alternate director acting in that capacity) of a company, a registered Australian body or a registered foreign company under the Corporations Act 2001 (CA);

Once you have obtained a DIN the number applies in respect of each company or corporation of which you are a director.

How do you apply?

Easiest

Online -2 step process:

(1)       apply for a MyGovID (not the same as your MyGov account) - by downloading the MyGovID app, follow the steps on the app (you will need a personal email address and to have some identity documents such as your driver’s license, passport and Medicare card);

(2)       go to the ABRS website (www.abrs.gov.au), and use your new MyGovID to log on (you will then need your TFN and the residential address the ATO has on file for you and information on 2 other documents that the ATO will know about you e.g., your last notice of assessment)

- voila, your DIN will appear on the screen (to print and/or save on your device for future use).

Or

Telephone 13 62 50

How long do you have to get your DIN?

Date you last become a director                                Date you must apply

  • Before 1/11/2021                                            until 30/11/2022
  • Between 1/11/2021 – 4/4/2022                       within 28 days of being appointed director
  • From 5/4/2022                                                before a company can be incorporated.

What if you cannot get your DIN within time?

You should apply for an extension of time to apply for a DIN.

There is a form for that purpose to be completed and submitted to ABRS (www.abrs.gov.au).

It is a criminal offence if you do not apply for your DIN on time, apply for multiple DIN’s or misrepresent a DIN.

There are 4 new director offences under the CA with fines of up to $13,200 (criminal) and $1,100,000 (civil) for individuals failing to have their DIN when required to do so.

A fine of up to $26,640, 1 year imprisonment or both (criminal); $1,100,000 (civil) is applicable for applying for multiple DIN’s or misrepresenting a DIN.

You have your DIN – now what?

Currently, there is no requirement to provide your DIN to ASIC or the company/s of which you are a director.

ASIC companies register will transfer to ABRS which is when your DIN will need to be linked to the company/s. That is expected to be in 2023.

If you or someone you know wants more information or needs help or advice, please contact us on (07) 5443 4866 or email advice@gwlaw.com.au.

If you need help, or have a question get in touch with us today.