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InFocus February 2023 - Volume 32 Issue 1

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There's still time to apply

All directors of Australian companies must apply for a director ID. A director ID is a unique identifier that you apply for once and keep forever. Director ID benefits the Australian community by helping to protect honest businesses, their suppliers and their workers from illegal activity such as the use of false director identities and illegal phoenixing.

If you became a director before 31 October 2021, you were required to apply for a director ID by 30 November 2022. If you missed the deadline, you must apply for your director ID as soon as possible, as it is a criminal offence not to apply when required to do so. ATO will take a reasonable approach to directors who are trying to do the right thing, but it’s important to apply for your director ID now.

The easiest and fastest way to get your director ID is to apply online at abrs.gov.au/directorID. It’s free to apply for a director ID, and you must do it yourself – no-one can apply for a director ID on your behalf.

Registered agents - how to request a company debt report

Unsure if your clients have paid their fees? You can check by lodging a request through the registered agent portal or your EDGE software.

There are two types of company debt reports you can lodge:

  • RA63 Request for individual company debt report – a debt report for a specific company linked to you. You need to supply the company name and Australian Company Number (ACN).
  • RA67 Request for all companies debt – a debt report on all companies linked to you. Only two RA67s can be made per day.

View our step by step user guide for more details on how to request a debt report, or visit our website for more information on checking your account balance.

Note: Companies with a zero debt balance will not appear on the reports.
Payments may take 24-48 hours to appear on the account. If a debt shows as outstanding and is due in the next few days, we recommend checking with the client directly if payment has been made and the correct reference number has been used. Payment details can be found on our website.

No longer represent a company included on your debt report?
Please lodge a Form 361 Notification of a registered agent ceasing to act for a company. You should also check that the registered office address for the company is an address where mail can be issued, to ensure the company can meet its ongoing obligations.

If you are listed as the registered office address, you should advise the client to update their details. Alternatively, send a request to ASIC with the company name and ACN, advising you’re no longer authorising them to use your address.

Don't let your business name be cancelled

As the holder of a business name, it’s important to ensure that your registration is current, and your details are up-to-date to avoid possible cancellation.

Two common reasons we may initiate cancellation of a business name include:

  • the business name renewal has not been paid, or
  • the business name holder is a company that has been deregistered.

If we don't have an email address for your business name, notification of intention to cancel your business name will be sent to the address for service of documents.

Taking prompt action if you receive notifications relating to your business name will help to prevent unwanted cancellation.

More information on when and how ASIC may cancel your business name, can be found on our website.

Have you set up a company alert?

A company alert is a free, simple way to track any changes made to a company or to check which documents are lodged.

You can set up and manage alerts for companies that you want to track. The document types you can get a company alert for include:

  • internal administration (including change of company name and registered office)
  • buy backs
  • debts
  • deregistration
  • disclosure notices
  • financial
  • fundraising 
  • takovers.

To set up alerts, follow the steps on our website.

News and media

To stay up-to-date with ASIC news, visit ASIC’s News Hub.

Starting a small business? our webinars can help!

If you’re new to business, start off on the right foot by developing good record keeping habits and understanding your tax obligations. By learning the basics, you'll give your business the best chance of success.

We have several webinars to help you get it right, including:

  • Starting a small business: join this 60-minute session to learn about the difference between a hobby and a business; business structures; and the registrations that you may need.
  • Introduction to business records: in this 60-minute session you'll discover the benefits of developing good record keeping habits and the tools to help you manage your records.

Find out more about our small business webinars and workshops and remember to register early to secure your spot.

Last updated: 22/02/2024 12:58