Important Client Notice: New AML/CTF Requirements from 1 July 2026

IMPORTANT CLIENT NOTICE

New AML/CTF Compliance Requirements from 1 July 2026

From 1 July 2026, a range of Australian professional service providers including accountants, lawyers, solicitors, and real estate agents will be subject to new Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) laws. 

As a result, Sullivan Dewing will be regulated by AUSTRAC and, in certain circumstances, will be required to verify the identity of clients before providing specific services.

WHAT THIS MEANS FOR YOU

In most cases, nothing changes

For the majority of our clients, there will be no change to the services we provide. Your regular tax compliance, BAS and general tax advice aren’t affected. It’s only specific transaction and structuring work that triggers these new requirements.

From 1 July 2026 if you engage us for certain services—such as establishing or restructuring a company, trust or SMSF, or assisting with property transactions—we may be legally required to complete identity verification and due diligence before we can proceed.

This may include asking you to:

• Verify your identity using a driver's licence or passport

• Confirm your residential address and contact details

• Provide information about your business or ownership structure

• Confirm the beneficial owners of companies, trusts or other entities

• Provide information about the source of funds for certain transactions

These are standard requirements that now apply across a range of professional service providers.

HOW IT WORKS

A simple and secure process

Where these requirements apply, we'll let you know.

Identity verification will generally be completed by sighting your original identification documents or electronically through our secure provider, InfoTrack. 

We'll guide you through the process and only request the information required by law.

OUR COMMITMENT

Making compliance as easy as possible

We understand that providing additional information can be inconvenient, so we'll only ask for it when the legislation requires us to do so. 

Your information will be handled securely, used solely for AML/CTF compliance purposes, and managed in accordance with Australian privacy laws.

QUESTIONS?

If you have any questions about these changes or how they may affect you, please don't hesitate to contact your Sullivan Dewing Client Manager. 

For more information about the AML/CTF reforms, you can visit AUSTRAC’s overview of the changes.

We're committed to making this transition as smooth as possible and appreciate your understanding as these new requirements come into effect.