Feedback required - Director Identification Number (DINs)
The ATO wants my input, so I would like yours! I'm so bloody excited to be asked to be your voice by the ATO in relation to the next round of consultation for the proposed introduction of Director Identification Number (DINs).
At NowInfinity we see great possibilities to make the business ecosystem better. However many also see risk in the public disclosure of Directors details. Many are arguing against the inclusion of Director's dates of birth and address details as a risk to the privacy and safety of Directors themselves.
For background, the Assistant Treasurer, released draft legislation for public consultation to facilitate the modernisation of business registers and provide the legal framework for DINs.
The idea is that our country takes a leap forward in the modernisation of our business register system. DINs are also designed to protect against the use of phoenix companies where businesses are sent broke but their assets rise again in another company.
I would like to hear your comments ahead of my participation in the ATO’s accelerated co-design session next week. What do you see as the risks? What factors should be considered? What upside do you see?
Kind regards, Amreeta Abbott