From 1 July 2026, new Australian Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) laws apply to the real estate industry. These are Federal laws and apply across Australia, including Queensland. The changes mean real estate agencies must complete identity and risk checks before assisting with certain property transactions.
What does this mean for you?
The process of buying or selling property will be very similar to opening a bank account or applying for a loan.
You may be asked to provide additional information before your transaction can proceed.
Step 1 – Identity Verification
We will ask you to verify your identity by providing documents such as:
- Driver licence
- Passport
- Medicare card (if required)
This helps confirm we are dealing with the correct person.
Step 2 – Ownership Information
If you are buying or selling through a company, trust or self-managed super fund, we may ask for additional documents to identify the people behind that entity.
This may include:
- Companies: Director identification and details of beneficial owners of the company.
- Trusts and SMSF’s: A copy of the Trust DEED, identification for the trustee(s), and relevant supporting documents from the ATO or ASIC.
Step 3 – Source of Funds
In some circumstances, we may ask where the money for the purchase has come from, for example:
- Savings
- Home loan
- Sale of another property
- Inheritance
- Investment proceeds
This is a normal part of the new legal requirements.
Step 4 – Additional Questions
Some transactions may require us to ask a few extra questions. This does not mean there is a problem, it simply means we are meeting our legal obligations.
Will this delay my transaction?
Usually, no.
If all requested information is provided promptly, the process should be quick and straightforward. Delays generally only occur if information or documents are missing.
Why are these laws being introduced?
The Australian Government has expanded AML/CTF laws to help prevent:
- Money laundering
- Terrorism financing
- Serious financial crime
The property industry is now required to meet many of the same compliance standards that banks have followed for years.
How can you help?
To keep your transaction moving smoothly:
- Have your identification ready.
- Provide requested documents as soon as possible.
- Let us know if you’re purchasing or selling through a company or trust.
We’re Here to Help
We understand these changes are new for everyone. Our team will guide you through each step and explain exactly what information is required. Our goal is to make the process as simple and stress free as possible while complying with the new legislation.