ASIC - Director ID
We wish to remind our clients that effective November 2021, all directors of a company, registered Australian body, registered foreign company or Aboriginal and Torres Strait Islander corporation is required to obtain a director identification number (Director ID).
You must apply for your director ID based on the date you become a director;
On or before 31 October 2021 by 30th November 2022;
Between 1 November 2021 and 4 April 2022 within 28 days of appointment;
From 5 April 2022 before appointment.
Directors must apply for their director ID themselves because they will need to verify their identity. We cannot apply on your behalf.
The ABRS is responsible for the implementation and administration of director ID. ASIC will be responsible for the enforcement of associated offences.
https://www.abrs.gov.au/director-identification-number
Please refer to the above website for further information and should you have any queries, please contact our office.
Christmas Wishes and Office Closure
Our office will close at 12pm on Wednesday 22nd December 2021 and will re-open on Monday 10th January 2022.
We wish you and your family a safe and happy Christmas and a healthy new Year.
December 2021 NEWSLETTER
The December newsletter topics include obtaining your director's ID, last Wills and disputes, Treasury Law amendments to Superannuation and more.
Please refer to the attachment for further information and should you have any queries, please contact our office.
MELBOURNE CUP - Office Closure
MELBOURNE CUP 2021 OFFICE CLOSURE
OUR OFFICE WILL BE CLOSED ON MONDAY 4th NOVEMBER 2021 AND TUESDAY 5th NOVEMBER 2021.
Business Costs Assistance Program - Round Four - Construction
Applications for the Business Costs Assistance Program Round Four - Construction are now open. The program provides one-off payments to eligible employing and non-employing businesses in the construction sector. Businesses must have incurred direct costs because of the health restrictions in place between 21 September and 4 October that have not been and will not be partially or fully recovered or otherwise reimbursed. Payments of up to $8400 will be made available to eligible businesses based on payroll size.
- Businesses must not have received a Business Costs Assistance Program Round Two or Business Costs Assistance Program Round Two July extension payment or Small Business COVID Hardship Fund payment.
Please use the below link to apply
If you need any further information or guidance please contact me at the office
Employer Super Guarantee Contributions
From 1 November 2021, if you have new employees start, you may have an extra step to take to comply with choice of fund rules if they don’t choose a super fund. You may now need to request their ‘stapled super fund’ details from us.
A stapled super fund is an existing super account which is linked, or 'stapled', to an individual employee so that it follows them as they change jobs.
If you don't meet your choice of super fund obligations, additional penalties may apply.
The change aims to reduce account fees by stopping new super accounts from being opened every time an employee starts a new job.
Please refer to the above website for further information and should you have any queries, please contact our office.
ASIC - New requirements for Directors
From November 2021,all directors of a company, registered Australian body, registered foreign company or Aboriginal and Torres Strait Islander corporation will need a director identification number (director ID).
A director ID is a unique identifier that a director will apply for once and keep forever.
Directors must apply for their director ID themselves because they will need to verify their identity. No one can apply on their behalf.
The ABRS is responsible for the implementation and administration of director ID. ASIC will be responsible for the enforcement of associated offences.
https://www.abrs.gov.au/director-identification-number
Please refer to the above website for further information and should you have any queries, please contact our office.
October 2021 NEWSLETTER
The October newsletter topics include compensation payments received in your SMSF, CGT consequences when using part of your home as a place of business, inheriting rental properties jointly and more.
Please refer to the attachment for further information and should you have any queries, please contact our office.
