AML / CTF Fees
From 1 July 2026, all settlement agents/conveyancers & real estate agents must comply with new anti-money laundering and counter-terrorism financing (AML/CTF) legislation. AUSTRAC has published basic information for clients here: https://www.austrac.gov.au/general-public/why-you-might-be-asked-id
Before we can provide our services we will be required to complete customer due diligence (CDD) which includes:
- Identifying all individuals & beneficial owners (Trust beneficiaries, company directors & shareholders)
- Confirming destination of Sale proceeds
- Confirming source of Buyer funds
- Assessing the risk of the client/transaction against AUSTRAC criteria
Like most industry colleagues, we have partnered with a third party ‘AML Provider’ to “onboard” our clients & assist complete Customer Due Diligence. This will help simplify the process and minimise additional costs for our business & our clients.
Indicative additional costs for AML/CTF Compliance are likely to be:
Client type:
Individual/s
Simple/Family Company *
Simple/Family Trust **
Company as Trustee
Bare Trust (for Trustee of SMSF)
Our fee:
$100
$250
$250
$500
$1,000
Estimated AML Provider fee
$25 per individual
$25 per individual
$25 per individual
$25 per individual
$25 per individual
* Simple companies are those with up to 4 Directors/Shareholders who are individuals
** Simple Trusts are those with up to 4 individuals as Beneficiaries