From 1 July 2026, new Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) laws apply to real estate transactions across Australia. Under these laws, real estate agencies are required to verify the identity of buyers and sellers and collect certain information as part of the sale or purchase process.
For most clients, this will feel very familiar, similar to the identification checks already used by banks and financial institutions when opening an account or arranging a mortgage. Our Stone agents will guide you through what’s needed and help make the process as straightforward as possible.
WHAT THIS MEANS FOR YOU
For buyers
• Identity verification is required
• You may be asked about your source of funds (e.g. savings, a loan, or proceeds from a property sale)
• Additional checks may apply for purchases through a company, trust or SMSF
For sellers
• Identity verification is required
• Additional checks may apply depending on your ownership structure
These requirements apply to both buyers and sellers to support transparency and protect property transactions.
KEY INFORMATION
When will these checks occur?
Verification usually takes place early in the process, often at the start of working with your agent, or before key steps such as listing or well before the settlement on a property. Completing verification early helps keep your transaction on track.
Is my information secure?
Yes. Your information is handled securely and in accordance with Australian privacy laws.
Why are these changes being introduced?
These reforms are designed to reduce financial crime, improve transparency in property transactions, and bring Australia in line with international standards.
WHAT YOU MAY NEED TO KNOW
Depending on your situation, you may be asked to provide:
• Driver’s licence or passport
• Proof of address
• Information about your source of funds
• Company or trust documentation
• Identification for directors or trustees
• Finance or mortgage confirmation documents
Our Stone agents will explain exactly what is required and support you through the process.
LEARN MORE
For more information, visit austrac.gov.au, however, our agents will help explain what’s required and support you through the process.
DISCLAIMER: This document has been prepared by Stone Real Estate for general information purposes only. It provides a summary of legislative requirements under the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (Cth) and is intended as a general guide only. It does not constitute legal, financial, or compliance advice. Requirements may vary depending on individual circumstances and transaction type. Clients should seek independent professional advice where appropriate. Information is current as at the date of publication and may be subject to change as further guidance is issued by AUSTRAC or amendments to legislation occur.