Please note this update is very important for new company directors and directors of soon-to-be incorporated companies because you will need to get a DIN ASAP!
The 3 Things You Need To Know About the New Director Identification Number (DIN)
- What is a DIN?
A DIN is a 15 digit unique identifier (a bit like a Tax File Number) that all current and future directors of Australian companies and other registered organisations (such as charities and Not-For-Profits) will need to have in order to serve as a company director.
- How do I get a DIN?
Australian citizens can apply for a DIN through the ABRS. You will need your:
- MyGovID Account
- Australian tax file number (TFN)
- Residential address
- Answers to two questions based on information the various government agencies have about you (e.g. your PAYG payment summary)
Foreign Directors have to submit a paper application, the details of which can be found on the ABRS website.
- When Do I Need to Have a DIN By?
The deadlines for applying for a DIN are as follows:
- Current Directors have until November 2022 to apply for a DIN.
- Directors appointed between 1 November 2021 and 4 April 2022 will have 28 days after they are appointed to apply for a DIN.
- All future directors will need to have a DIN prior to their appointment.
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If you want to know if your business qualifies for provisional eviction protection in NSW, or rent relief in VIC, our legal eagles can assist you by conducting a thorough review of your lease contracts and other pertinent documents. We can help you prepare the necessary paperwork to negotiate your rent relief.
If you are a director of a company and need help understanding the new obligations just get in touch with us !
Aspect Legal has experts ready to help with all your business-related legal issues.
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