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The first step in streamlining business records is going smoothly, says deputy registrar Michelle Crosby.
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We’re here to help with director IDs: ABRS
14 April 2022
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More than 400,000 directors have already applied for IDs, said the Australian Business Registry Services, and the benefits will soon be evident in better access to business data.
Just 10 days after the first deadline to apply the deputy registrar of the ABRS, Michelle Crosby, said the service was here to help with detailed information in multiple languages and extensions for overseas directors.
Speaking with Elinor Kasapidis, senior manager of tax policy at CPA Australia, on the latest With Interest podcast, Ms Crosby said director IDs were just the first step in the Modernising Business Registers program.
The MBR would roll out progressively to 2024 and bring together the and more than 30 ASIC registers, taking in companies, business names and financial services licences.
“It will streamline how businesses register and maintain their records for government,” said Ms Crosby. “Our goal is to really make it easier for businesses and agents to engage with government. And as each of the new services gets built, we’ll be working with our stakeholders and users to onboard to the new services.
“Director ID has been our initial focus in establishing the ABRS. [It’s] a unique 15-digit identifier that all directors, or someone who intends to become a director, needs to apply for.
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“Over time, director IDs will help to build a fairer business environment by preventing the use of false and fraudulent director identities.”
She said 417,000 directors had so far applied.
“Getting a director ID is now the first obligation check when starting a company. And importantly, directors can even apply up to 12 months before their employment. We’re reaching out to newly appointed directors who do not have a director ID to ensure they’re aware of their obligations,” said Ms Crosby.
“Our focus is on helping people do the right thing. We do know that almost 15 per cent of Australian company directors were born overseas. And so to help directors with the process, we’ve translated all of the content [into] a range of languages to help make it easy.
“We also know that some of those directors may actually live overseas, and they might need more time to apply. And for those people, again, we request that they apply for an extension.
“We know a lot of people may have been appointed as a director, but may not see themselves as a company director. And they’re people like trustees of self-managed super funds, or directors of not-for-profit organisations. So on our website, we’ve got deep detailed information on who needs to apply for a director ID and by when.”
She said the next stage of the MBR involved putting the details of 3 million companies into a more streamlined form, with integrated up-to-date data a boon when emergency relief was required.
“So certainly through bushfires and COVID, information on businesses, their locations, has been used to actually make sure that we’re getting support quickly to businesses in impacted areas,” said Ms Crosby.
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