How secure is your business against cybercrime?
13 Dec 2021
The Director ID will be a unique identifier that a Director will keep forever.
This enables regulators to better track of Directors of failed companies who use fabricated identities. The new system will help overcome issues with data integrity, which have always been a constant battle in regulating “Phoenixing”. This compliance regulator will further support small businesses by keeping out the operators that are breaking the law.
Phoenixing is when companies deliberately avoid paying liabilities by shutting down an indebted company and transferring assets to another company. This hurts trade creditors, employees, and the public through lost taxes.
Directors will need to apply online for a Directors ID themselves and the fastest way to do this is via the myGovID app learn more here.
While we cannot do this for you; if you get stuck, we are happy to step you through the whole process.
If you are after more information about Director identification number click here, or you can chat with one of our friendly team members, simply give us a call
on 1300 917 919
13 Dec 2021