New AUSTRAC Anti-Money Laundering Rules for Real Estate in 2026

New anti-money laundering laws effective 1 July 2026 now apply to real estate agents, accountants, and lawyers across Australia. For Gold Coast property sellers and buyers, this means a new layer of mandatory compliance before any property can be listed, auctioned, or purchased.

What Changed From 1 July 2026?

Under the “Tranche 2” expansion of the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (Cth), real estate agents, lawyers, and accountants are now classified as “reporting entities.” This means they must:

• Verify the identity of every seller, buyer, and agent they deal with
• Verify the source of funds involved in any property transaction
• Report suspicious transactions to AUSTRAC

Failure to comply can result in significant fines for the agent or professional involved — not just the client.

What Sellers Must Now Do

If you are selling a property, your agent will require you to:

1. Verify your identity — typically by providing certified copies of your driver’s licence or passport
2. Confirm source of funds — providing bank account details or other documentation showing where your money comes from
3. Cooperate with any other compliance checks the agent is required to conduct

If you refuse these checks, the agent may decline to take on your listing, as proceeding without compliance exposes them to direct AUSTRAC liability.

What Auction Bidders Must Now Do

From 1 July 2026, every person who wishes to bid at an auction must:

• Confirm their identity to the auctioneer before bidding is permitted
• Confirm the source of the funds they intend to use to purchase

This applies in addition to the seller-side obligations and represents one of the most significant changes to how property auctions operate in Australia.

What About Form 2 Disclosure?

Separate to the AUSTRAC rules, sellers are also required to provide a Form 2 property disclosure to prospective buyers. This came into effect in August 2025. If the Form 2 is missing or incorrect:

• A buyer can cancel the contract after the fact
• The seller may still owe the agent’s commission even if the sale falls through

Legislation: Property Law Act 2023 (Qld) — Form 2 disclosure obligations (effective August 2025).

What About Building and Pest?

Making the property available for buyers to conduct their own building and pest inspections before an auction may still be sufficient in most cases, but this is less certain than the AUSTRAC and Form 2 obligations. Check with your conveyancer or property lawyer for your specific situation.

Related Topics

• Form 2 Seller Disclosure Queensland
• Property, Form 2 & Strata — Legal Matters Episode 9
• Conveyancing Timeframe Queensland
• Property Practice Area

Need Help Navigating AUSTRAC Compliance?

Our property team can help you understand what’s required for your specific sale or purchase situation under the new AUSTRAC rules.

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