As company directors scramble to file their Director ID applications ahead of December 14, the Australian Taxation Office (ATO) says it will consider penalties for business leaders who “deliberately” sidestep the new identification system.
The application window for the compulsory Director ID system, which provides business leaders with a unique 15-digit number identifying their corporate activities, officially closed on November 30.
Under the Corporations Act 2001, the maximum criminal penalty for company directors who go without a Director ID Number (DIN) is $13,200, with maximum civil penalties ballooning out to $1.1
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Senior Business Journalist
Focused on the small business sector, David’s work covers the political, regulatory, and economic issues facing Australian entrepreneurs. Prior to joining SmartCompany, he was a reporter for Business Insider Australia. You can follow him on LinkedIn.
