Everwhere we turn it seems, there’s something new every small business has to deal with.
This one though has a very sound trade off for every honest business owner. And it only needs to be done once.
How good is that?
The Government, through the agency of ASIC and the ATO, will shortly require all company directors to obtain and use a new Director Identification Number. And like your Tax File Number, it will stay with you for life. But inlike your Tax File Number, it will be visible to the public.
The idea is to make life difficult for scammers and illegal phoenix operators who make it harder for the honest Mum and Dad to compete in an already tough environment.
And more good news if you already have registered for MyGovID to access Government services: there is nothing to do just yet. If you don’t have your MyGovID set up, you can do that anytime in the next couple of months and still be ready when the staged introduction starts.
If you need more information, or you need some help, you know where to find us.