Introducing the Director Identification Number regime – what you need to know

Amid what has been a turbulent end of financial year, it is likely for many advisers and clients that the introduction of the Director Identification Number regime may have gone unnoticed. In this episode of Accountants Daily Insider, host Jotham Lian is joined by Jamie Towers, tax partner at Mazars, to deep-dive into what the passing of this law will mean for directors over the coming months and years, and the penalties involved for those who do not embrace the new system. Jamie will explain why ASIC has chosen not to rely solely on tax file numbers, unpack your responsibilities as an adviser amid the changes, and share the practices and strategies that they are adopting at Mazars.