Jane Hume (Victoria, Liberal Party, Minister for Superannuation, Financial Services and the Digital Economy) Share this | Hansard source

I thank Senator Bragg for his question. Businesses large and small are at their most productive and competitive when they spend less time on paperwork and more time focused on what they do best. That's why the Morrison government's Modernising Business Registers program will deliver a single entry point to streamline how businesses register, view and maintain information with the government. This new, fast and easy-to-use platform, announced as part of the Morrison government's Digital Business Plan, will bring together more than 30 ASIC registers and the Australian Business Register onto a new modern system at the ATO.

A major component of this program is the establishment of director IDs. As of 1 November this year, Australia's 2.7 million company directors can quickly and easily apply for their new director ID online using the Australian Business Registry Services website. This unique 15-digit identifier takes only minutes to apply for but it will stay with a director for life, even as they move between roles and businesses, and even different countries. In a world of increasing identity theft and cybersecurity threats, director IDs offer far greater identity security than is currently available. More importantly, director IDs will help to level the playing field for honest businesses. They will prevent the use of fictitious directors, help regulators chase directors' relationships with companies over time and better identify director involvement in unlawful activities such as illegal phoenix activity.

To apply for a director ID, directors can very simply log on to the Australian Business Register Service online using the myGov ID app. It's free to apply and available to directors within Australia and overseas. Applications can be made by phone or by paper, for those who need it, but the online application form takes only minutes to complete and their director ID is issued instantly.