04/06/2026
WHY ARE SETTLEMENT FEES CHANGING FROM 1 JULY 2026?
You may notice changes to settlement fees across Western Australia from 1 July 2026. We believe it’s important to explain why.
New Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) laws will come into effect, placing significant new obligations on Settlement Agents when handling property transactions.
What does this mean?
- Settlement Agents will now be required to undertake additional identity verification and due diligence processes.
- We must monitor, assess and maintain records to ensure property transactions are not being used for criminal activity or financial misconduct.
- We will be subject to increased compliance requirements, reporting obligations and professional liability.
- These measures help protect not only our clients, but Australia’s financial system as a whole.
While much of this work happens behind the scenes, it involves substantial additional time, expertise, compliance systems, training and ongoing regulatory responsibilities.
For many years, Settlement Agents have absorbed increasing compliance requirements while keeping fees as affordable as possible. However, the responsibilities we carry today are significantly greater than they were even a few years ago.
Our fees are not simply for processing paperwork.
They reflect:
✔ Professional expertise
✔ Legal and regulatory compliance
✔ Risk management
✔ Accountability
✔ Guidance through one of the largest financial transactions most people will ever make.
As a profession, Settlement Agents play a critical role in protecting property owners, buyers, sellers and now Australia’s financial system from criminal exploitation.
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