Upcoming changes to identification requirements (AML/CTF legislation)

We’d like to make you aware of an important regulatory change that will impact how we work with you.

From 1 July 2026, all accounting firms must comply with new requirements under Australia’s Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) legislation.

What this means for you

Under these laws, we are required to take additional steps to verify our clients, including:

  • Confirming identity (e.g. driver licence or passport)

  • Understanding ownership and control of entities (companies, trusts, etc.)

  • Requesting further information where required based on the nature of services

 You may already be familiar with these types of checks through your bank or other financial institutions—similar requirements are now being extended to accounting firms, solicitors and real estates.

 What you can expect

Over time, we may request information from you to meet these obligations.

Our approach will be to:

  • Keep requests clear and practical

  • Only collect what is necessary

  • Use secure systems to protect your information

 Fees associated with these changes

The introduction of AML/CTF obligations requires additional work by our team, including collecting, verifying and maintaining client information.

 As a result, fees will apply to cover this compliance work. These may include:

  • An onboarding or verification fee for new clients; and/or

  • Fees associated with certain regulated services

 You may also encounter similar charges from other professionals involved in a transaction (such as solicitors or real estate agents), as these obligations apply across multiple industries.

We are currently finalising our fee structure and will communicate further details in due course.

 Timing

We will begin incorporating these requirements into our processes from the 1 July 2026 commencement date.

 We appreciate your understanding as we implement these changes and remain committed to keeping the process as straightforward as possible.

 If you have any questions, please feel free to contact our team.

 

Rhondel Clark