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Key Take Aways:

I’m a keen follower of the Creditor Watch Blog and thought this article by Lindsay Simoncavage is worth sharing with the Synergy48 group community. Here’s a quick summary of the article and the link to the full article

The Creditor Watch article reports that legislation introduced in the House of Representatives on February 13th, has the aim of modernising business data and introducing Director Identification Numbers (DINs). 

What the legislation does:

  • Administration of business registers is currently spread over more than 30 places. The legislation will move the data to a single registry platform administered by a Registrar within the ATO.
  • Provides a legal framework for Director Identification Numbers (DINs), a unique identifier that a director will keep permanently. This is designed to combat Phoenix and Phoenix related activity.

Here’s the link to the full article on the CreditorWatch Blog published on 20 February 2019

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