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.
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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