CA ANZ (our) has been a longtime supporter of the modernising business registers (MBR) program.
In our December 8, 2021, submission to the Australian Tax Office (ATO) we provided feedback on the draft legislative instruments and accompanying explanatory statements relating to the director ID data standards (ABRS 2021/D1) (data standard) and the director ID disclosure framework (ABRS 2021/D2) (disclosure standard).
Lack of transparency and next steps for director ID holders
Our submission outlined important consideration points as the director ID and MBR program continues to evolve.
- a need for greater transparency and clarity for director ID holders through frequent and detailed communication, in particular, in relation to how their director ID information will be linked to relevant companies and how this information will ultimately be displayed publicly through the Australian Business Registry Service (ABRS).
- Establishing a regular communication channel between the Registrar and directors to convey alerts and information relating to MBR and director ID, for example how directors should treat their number and who they can share it with.
Have you applied for your director ID?
Up to speed on the Australian director ID application process? Applications are now open.Read more