⚠️ This is general information, not legal advice. For specific guidance on your situation, particularly involving trusts, companies, SMSFs or international ownership, please speak with your solicitor or accountant.
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From 1 July 2026, Australia's Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) regime extends to real estate agents, conveyancers, lawyers and accountants. These are the long-awaited "Tranche 2" reforms, and they bring Australia into line with international standards after years of pressure from the Financial Action Task Force (FATF).
In practical terms, every Brisbane property transaction from July onwards will involve verified ID, beneficial ownership disclosure where relevant, and, in narrow circumstances, reporting to AUSTRAC. It is a significant compliance shift, landing right as we move into the new financial year.
Why the law has changed
For years, Australia has been one of the only developed economies that did not regulate real estate agents under its anti-money laundering rules. Property is a well-known channel for moving illicit funds globally because the transactions are large, the assets are durable, and the buyer pool is broad enough to obscure individual purchases. The FATF flagged this gap repeatedly in its evaluations of Australia.
The amended AML/CTF Act 2006, passed in late 2024, closes that gap. Real estate agents now join banks, casinos, accountants, lawyers and bullion dealers as reporting entities under AUSTRAC. The commencement date for the real estate sector is 1 July 2026.
What changes for sellers
When you list a property with any Brisbane agent from 1 July, expect to be asked for photo ID (a current driver's licence or passport), confirmation of your legal name, date of birth and residential address, and beneficial ownership information if the property is held in a trust, company or self-managed super fund (SMSF). If anything in your transaction looks unusual, your agent may also ask follow-up questions about the source of the funds involved.
This is not optional, and it is not your agent being intrusive. The penalties under the AML/CTF Act for an agent who skips this step are serious, both for the individual and the agency. It applies equally to every vendor, every property, every campaign.
What changes for buyers
The same ID and verification requirements apply at the buyer side, typically triggered when you sign a contract or pay a deposit. If you are buying through a trust or company structure, you will need to disclose the beneficial owners. That means the actual people who control the entity, not just the trustee or director named on the title.
For most Brisbane buyers, the experience will feel similar to opening a bank account. A short digital ID check, a few extra forms, and the contract moves on.
What every Australian agency must now do
Behind the scenes, the obligations on agencies are substantial. Every reporting entity must enrol with AUSTRAC (the enrolment window for the real estate sector closed 31 March 2026), maintain a documented AML/CTF Program that sets out how the agency identifies and manages money-laundering risk, conduct Customer Due Diligence (CDD) on every party to a transaction, submit Suspicious Matter Reports (SMRs) within strict timeframes when red flags appear, and keep records for seven years.
It is a meaningful operational lift. For buyers and sellers, the goal is for it to feel like a small, professional addition to the existing process rather than a hurdle.
What the new rules do not mean
A few things worth clearing up, because there is already some misinformation circulating. The AML changes are not a new tax. There is no additional cost to the seller or buyer arising from the legislation itself. They do not slow down settlements either. ID verification happens at the listing or contract stage, well before settlement. Cash deposits are not banned, but anything outside ordinary banking channels will draw scrutiny. And your personal information is not shared publicly. It is held by the agency and only disclosed to AUSTRAC if a reportable threshold or genuine suspicion is triggered.
How we are handling it at Ray White Bulimba
We have partnered with AML HUB to make sure every compliance requirement is met without the process becoming a drag on your sale or purchase. AML HUB specialises in real estate AML/CTF compliance, which means we can stay focused on getting you the right result while the verification and reporting workflow runs cleanly in the background.
In practice, ID verification is handled digitally where possible, usually under five minutes on your phone. AML HUB's workflow integrates with our trust account and CRM, so you are not filling in the same details twice. For trust, company and SMSF vendors, we walk you through the beneficial ownership disclosure before listing day so there are no surprises. If anything in your situation is unusual (overseas funds, complex structures, recent inheritance), we flag it early so it does not hold up the contract.
The compliance is rigorous. The experience of selling or buying with us stays the same as it always has been.
Practical checklist before 1 July 2026
If you are planning to list or buy in the second half of 2026, the simplest preparation is to have your ID documents current and accessible. For vendors using a trust, company or SMSF, dig out the trust deed, company extract or fund deed now. Knowing who the beneficial owners are before listing day saves a back-and-forth that can otherwise stretch into the first week of a campaign.
If your ownership structure is complex (a trust within a trust, a foreign entity in the chain, recently inherited shares), a 30-minute conversation with your accountant before listing is time well spent. They can prepare a beneficial ownership summary that we can hand to AML HUB on day one.
Thinking about selling in 2026? Daniel walks every vendor through the practical preparation steps before a campaign starts, including the new AML/CTF requirements and how AML HUB makes them painless. Get in touch for an honest appraisal.