Big Change Coming: New Anti-Money Laundering Rules for Property from 1 July 2026
From 1 July 2026, real estate transactions across Australia — including the Gold Coast — will fall under the same anti-money laundering (AML) laws that already apply to banks and financial institutions.
The short version (TL;DR)
Buying or selling property won’t become harder — but it will become more transparent.
Expect earlier ID checks, questions about where funds come from, and better record-keeping throughout the sales process.
The aim is simple: stop property being misused for criminal activity, while keeping legitimate transactions moving smoothly.
Source: AUSTRAC
What’s changing (in plain English)
Real estate becomes a “regulated” industry
Real estate agents — and some developers — will officially become reporting entities under Australia’s AML/CTF regime (known as Tranche 2).
This means agents must:
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Verify customer identities
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Ask basic “source of funds” questions
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Keep formal records
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Report suspicious activity where required
Source: AUSTRAC
When does this start?
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31 March 2026 – New rules apply to existing reporting entities (e.g. banks)
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1 July 2026 – Real estate agents, lawyers and accountants come fully into scope
What buyers can expect
ID checks earlier in the process
You may be asked to provide ID before making an offer, sometimes at first contact — not just at settlement.
“Source of funds” questions
Buyers should expect to explain, at a high level, where their funds come from, such as:
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Savings
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Sale proceeds
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Inheritance
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Loan finance
For companies or trusts, agents must also confirm who ultimately owns or controls the entity (beneficial ownership).
Extra checks in higher-risk situations
Some transactions may require enhanced checks — for example:
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Complex ownership structures
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Unusual cash use
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Politically exposed persons
These checks are designed to protect buyers, sellers and the market, not to slow genuine deals.
Less cash, more traceability
Large cash transactions will face tighter scrutiny. Property transactions are expected to move fully through traceable, regulated channels.
What sellers can expect
ID checks for vendors too
Agents must verify the identity of sellers at listing stage — including any beneficial owners if selling through a company or trust.
Questions about settlement proceeds
To avoid last-minute issues, agents may confirm:
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Where settlement funds will be paid
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Whether proceeds involve multiple parties or accounts
Better protection from risky buyers
Agents are required to monitor and report suspicious behaviour — reducing the risk of failed contracts or problematic buyers.
Will this slow down my sale or purchase?
Generally, no.
Most checks are straightforward and often digital. Delays usually only occur when:
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Documents are missing
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Ownership structures are complex
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Information is provided late in the process
Early preparation is the key to a smooth transaction.
Why this is good news for the Gold Coast Market
These reforms help strengthen confidence in the local property market by:
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Cleaner competition – Less illicit money distorting prices
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Fewer surprises – Issues identified early, not at settlement
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Greater confidence – Australia aligned with global best practice
Key dates at a glance
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Now – June 2026: Industry guidance and preparation
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31 March 2026: Banks and existing entities comply
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1 July 2026: Real estate formally in scope
How we will support you
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Request ID and source-of-funds information early
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Provide clear checklists for individuals, companies and trusts
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Escalate anything unusual quickly so genuine transactions stay on track
Quick FAQs
Will I need a lawyer or accountant?
Sometimes — especially for companies, trusts or complex funding arrangements.
Is my information secure?
Yes. AML laws require secure storage, limited access, and reporting only where legally required.
What if I don’t provide documents?
Agents may not be able to proceed due to legal obligations.
DISCLAIMER - The information provided is for guidance and informational purposes only and does not replace independent business, legal and financial advice which we strongly recommend. Whilst the information is considered true and correct at the date of publication, changes in circumstances after the time of publication may impact the accuracy of the information provided. Property Boutique will not accept responsibility or liability for any reliance on the blog information, including but not limited to, the accuracy, currency or completeness of any information or links.
