Buying and selling property has always involved contracts, identification and legal paperwork. However, from 1 July 2026, Australians may notice an additional step in the conveyancing process. Under Australia’s expanded Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) reforms, conveyancers, lawyers, accountants, real estate professionals and other regulated businesses are now required, in certain circumstances, to verify not only who their clients are, but also where the money for a transaction comes from.
At first, these questions may seem surprisingly personal. You may be asked how you accumulated your savings, whether your purchase is being funded through employment income, the sale of another property, an inheritance or investments. These enquiries are not an invasion of your privacy. They form part of Australia’s efforts to prevent criminals from using the property market to launder money or finance serious criminal activity, including organised crime, scams, terrorism and human trafficking.
It is important to understand the difference between source of funds and source of wealth. The source of funds refers to the money being used for a particular property transaction. The source of wealth refers to how you have accumulated your overall assets over time. Depending on the level of risk associated with the transaction, your conveyancer may ask you to provide documents that verify one or both.
Information You May Be Asked to Provide
| Document or Information | Why It Is Required |
| Employer letter or payslips | Confirms salary or employment income used to fund the purchase |
| Accountant’s letter | Confirms the source of funds or overall wealth |
| Sale contract or title documents | Shows proceeds from the sale of another property or asset |
| Bank statements | Demonstrates the movement of funds for the transaction |
| Estate or inheritance documents | Confirms inherited assets or funds |
| Investment or dividend records | Shows investment income or accumulated wealth |
| Company or trust documents | Verifies ownership and control of business entities |
Providing this information promptly can help keep your transaction moving smoothly. Waiting until contracts have been exchanged to locate supporting documents may delay settlement or result in unnecessary enquiries later in the process. Preparing early allows your conveyancer to complete the required compliance checks while continuing with contract preparation, finance coordination and settlement planning.
These additional requirements also provide greater confidence for everyone involved in the transaction. Your information is protected under the Privacy Act 1988, and regulated businesses are legally required to keep it secure. While the process may involve more paperwork than in the past, it strengthens the integrity of Australia’s property market and helps ensure genuine buyers and sellers can transact with confidence.
Flash Conveyancing Advice
If you’re planning to buy or sell property, start gathering evidence of your source of funds as early as possible. Having documents such as bank statements, payslips, sale records or letters from your accountant readily available can help prevent unnecessary delays and allow your settlement to proceed smoothly.
Flash Conveyancing, led by Julian and Renee, is fully prepared for Australia’s new AML/CTF requirements and is ready to guide clients through every stage of the updated compliance process. As specialists in property transactions across New South Wales, they combine modern regulatory expertise with genuine personalised service, helping clients meet their legal obligations while keeping every transaction efficient, secure and stress-free.
With extensive experience across the Blacktown, Hawkesbury, Blue Mountains, The Hills, Hornsby and Parramatta council areas, Julian and Renee proudly assist clients throughout Acacia Gardens, Angus, Arndell Park, Blacktown, Colebee, Glendenning, Glenwood, Grantham Farm, Kellyville Ridge, Kings Langley, Marsden Park, Melonba, Oakhurst, Parklea, Quakers Hill, Riverstone, Schofields, Seven Hills, Stanhope Gardens, Tallawong, The Ponds, Baulkham Hills, Beaumont Hills, Bella Vista, Castle Hill, Kellyville, Kenthurst, North Rocks, Northmead, Rouse Hill, Vineyard, Windsor, Annangrove, Box Hill, Cattai, Dural, Gables, Galston, Glenhaven, Glenorie, Maraylya, Middle Dural, Nelson, North Kellyville, Norwest, Winston Hills, Sydney, Newcastle and Wollongong. Whether you’re buying, selling or transferring property, Julian and Renee provide practical advice, personalised service and proactive compliance support, ensuring your transaction is fully prepared from the very beginning through to settlement.
