Why You May Be Asked for Additional Information During a Property Transaction

From 1 July 2026, new Anti-Money Laundering and Counter-Terrorism Financing requirements apply to certain services within Australia’s real estate industry.

These changes form part of a broader national reform designed to help protect Australia’s property market from being misused for money laundering, terrorism financing and other serious financial crime.

For buyers in a property transaction, this may mean being asked to provide additional information or documentation as part of the transaction process when purchasing your property.

What’s Changed?

Real estate and property development businesses that provide certain regulated services, such as selling or transferring real estate in the course of business or brokering the sale, purchase or transfer of real estate, are now required to meet new AML/CTF obligations.

This includes completing customer due diligence checks before providing a regulated service. In practice, this will involve confirming the identity of buyers, sellers or other relevant parties, understanding the nature of the transaction and, in some circumstances, requesting additional information.

For many of our clients, this will simply mean completing a few extra checks before their contract of sale can be signed. These requirements are now part of the real estate industry’s compliance framework and are designed to support a more transparent and secure property market.

Why Are These Changes Being Introduced?

Property can be attractive to criminals seeking to conceal illicit funds or hide the true ownership of assets.

The new AML/CTF framework aims to strengthen safeguards across the real estate sector, improve transparency and help protect the integrity of Australia’s property market.

What Information Might Be Required?

Depending on the nature of your transaction and the parties involved, you may be asked to provide:

• Proof of your identity
• Details of any person acting on your behalf
• Information about companies, trusts or other ownership structures
• Information about beneficial owners, where relevant
• Details about the nature and purpose of the transaction
• Information about the source of your funds or source of wealth
• Additional documentation needed to meet legal obligations.

Not every transaction will require the same information. Our team will let you know what is needed and guide you through the process.

How We Will Support You

We understand that buying property can already involve a considerable amount of paperwork.

Our team is committed to making the process as straightforward as possible. We will guide you through the verification requirements, explain what information is needed and help ensure your property purchase progresses smoothly.

While there may be a few additional steps, these measures are designed to help protect the property market and provide greater confidence for everyone involved.

Have Questions?

If you are planning to purchase land from Ausbuild and would like to understand what the new requirements may mean for you, please get in touch with our team.

You can also find more information on AUSTRAC’s website, including why you may be asked to provide identification or additional information as part of a property transaction.

This information is general in nature and is intended to help customers understand why additional information may be requested as part of a property transaction. Requirements may vary depending on the transaction and the parties involved. Additional guidance may be found on AUSTRAC’s website www.austrac.gov.au/general-public/information-you-need-provide-when-you-buy-property.