ASIC accused of “sledgehammer” approach to Director ID compliance
The corporate regulator is taking a stern approach to company directors yet to sign up for a Director Identification Number, a senior lawyer says, as industry leaders question if the mandatory scheme is still fit for purpose.
ATO to chase 500,000 company leaders who still haven’t signed up for a Director ID
The ATO is contacting company directors to remind them of their Director ID Number obligations, chasing the 500,000 business leaders technically breaching corporate law by going without.
End of Director ID amnesty exposes 500,000 Australian corporate leaders to severe fines
As many as 500,000 company directors are now exposed to criminal penalties of $13,200 after the ATO's amnesty on late Director ID applications passed on Wednesday.
Director ID: ATO confirms crackdown on those “deliberately” missing obligations
As company directors scramble to file their Director ID applications ahead of December 14, the ATO says it will consider penalties for business leaders who "deliberately" sidestep the new identification system.
Worst offenders could face criminal charges, expert warns, as final Director ID deadline looms
Thousands of company directors technically committed a criminal offence by not applying for a Director ID number before November 30, but regulators appear unlikely to chase business leaders through the courts the moment a 14-day amnesty period comes to an end.
“Bring on the fine”: Business leaders see red over Director ID application bugs
Australian business leaders say the mandatory Director ID sign-up process is deeply flawed, with technical bugs, difficulties accessing the myGov ID system, and overwhelmed customer service lines delaying applications.
