What does this mean for Australian citizens, companies and their customers?

This scheme has been signposted for many years, with work commencing on a legislated Digital Identity system back in 2014 under the Coalition Government. After a variety of consultation processes, parliamentary committee reports, bill introductions and a change in responsibility for the digital ID project to the Department of Finance, we are now poised closer than ever to a world where Australians have, as a government fact sheet puts it, a "simple, inclusive and convenient method for verifying their identity in online transactions with government and businesses, while protecting their privacy and the security of their personal information".

LAB Group welcomes the progress of these plans, as they present scope for more secure, convenient, voluntary and inclusive digital ID verification. The Albanese Government has made clear its intentions to work towards this goal on several fronts, with the introduction of new legislation in September 2023 to end the requirement for pen-and-paper statutory declarations.It's important to note that digital ID reform supports efforts to improve cybersecurity for online services, whether they're provided by government or the private sector. Industry news site ITNews reported in September 2023 that business submissions to the 2023-2030 Australian Cyber Security Strategy Discussion Paper showed a "clear industry consensus in favour of government-backed digital ID" to help reduce information potentially exposed in data breaches, with submissions stating the "current regime is not yet fit for purpose." With the labour government now consulting on recently-released draft Digital ID legislation until 10 October, the next key step in this process is the anticipated introduction of the final legislation to Parliament by the end of the year. This paves the way for continued modernisation and digitisation of Australia's privacy and verification regime in 2024. LAB Group is in constant collaboration and dialogue with entities accredited under the Trusted Digital Identity Framework (TDIF) in anticipation of expansion of the digital identity system. As these plans and legislation progress through Parliament, LAB Group will keep its customers and partners updated regarding the impact and potential benefits of any changes.