30/06/2026
π Big Changes to Property Transactions from 1 July 2026 π‘
If you're buying or selling property, you may notice a few extra steps we need to take during the process.
From 1 July 2026, Australian law firms, conveyancers and real estate professionals are required to comply with new Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) laws. These changes are designed to help prevent criminals from using the property market to launder money and will introduce additional verification requirements for many property transactions.
So, what does this mean for you? π
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You may be asked to provide additional identification documents.
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We may need information and verification about the source of your funds (such as savings, the sale of another property, an inheritance or a gift).
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There may be additional due diligence requirements before your matter can proceed.
While this may add a few extra steps, these changes are now part of the legal requirements for all firms providing certain property-related services. Our team is committed to making the process as smooth and straightforward as possible while ensuring we meet our professional obligations.
If you have any questions about how these changes may affect your upcoming property transaction, we're here to help.
π Contact our team today on 02 6298 1333 for advice or assistance with your conveyancing and property matters.
Anti-money laundering laws mean that for the first time, real estate agents, lawyers, accountants and others must report suspicious transactions.