Australians with businesses could be fined $13,000 by the Tax Office in a WEEK because of a new law

One million Australians could be fined $13,000 by the Tax Office in a WEEK because of little known law

  • Aussies heading a company, organisation or community group are facing fines 
  • The ATO is enforcing a law that requires directors to have an ID by November 30 
  • Those who fail to have a director ID by the deadline risk a fine of up to $13,200 

More than one million Aussies are facing fines of up $13,000 from the Australian Tax Office as a new law comes into force in a week’s time.

The ATO is requiring the heads of companies, small businesses, non-profit organisations, charities, community groups and corporate trustee’s to have a director identification number (director ID) by November 30.

Those who fail to apply for a director ID by the deadline…

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Written by Bourbiza Mohamed

A technology enthusiast and a passionate writer in the field of information technology, cyber security, and blockchain

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