From November 2021, directors will need to verify their identity as part of a new director ID requirement. The Australian Business Registry Services (ABRS) is responsible for the implementation and administration of director ID. Australian Securities & Investments Commission (ASIC) will be responsible for the enforcement of associated offences.
It is now possible for taxpayers to re-contribute amounts that were withdrawn under the COVID-19 early release of super program without the contributions counting towards their non-concessional contributions cap. These contributions can be made between 1 July 2021 and 30 June 2030.