Buying a property is one of life's biggest milestones. From 1 July 2026, there is an important change that buyers across Australia should be aware of.

New Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) requirements will apply to real estate, conveyancing and legal services involved in property transactions. As a result, property buyers may be asked to provide additional information to verify their identity and confirm the source of their purchase funds before a transaction can proceed.  

While these requirements may be new to many buyers, they are designed to strengthen the integrity of Australia's property market and help prevent the use of real estate for illegal financial activities.  

Why are these changes being introduced?

The new AML/CTF requirements are intended to help prevent criminals from using property transactions to conceal or move illicit funds. Professionals involved in property purchases may now be legally required to complete customer due diligence checks before providing certain services.

For buyers, this means some additional verification steps throughout the purchasing journey. In most cases, the process is expected to be straightforward, particularly for purchasers with clear identification and funding documentation.

What information might buyers need to provide?

Depending on individual circumstances, buyers may be asked to provide:

• Proof of identity, such as a passport or driver's licence.  
• Personal information including full name, date of birth and residential address.
• Evidence showing where purchase funds are coming from, such as savings, property sale proceeds, inheritance, gifts or loan funds.
• Supporting documents including bank statements, loan approvals, contracts of sale, probate documents, gift letters or other records that verify the source of funds.
• Information about the bank account that will be used for the transaction.
• Details of any third parties contributing funds towards the purchase.

Buyers purchasing through a company, trust or other entity may also need to provide entity documentation and information about the individuals who own or control that entity.

When will these checks happen?

In some cases, buyers may be asked to provide information early in the purchasing process, including before making an offer or before a legal representative can begin acting on their behalf. Providing documentation promptly can help avoid unnecessary delays and keep the transaction moving smoothly.

How can buyers prepare?

The best way to minimise delays is to have key documentation ready before beginning the purchase process.

We recommend buyers:

• Ensure photo identification is current and readily available.
• Gather documents that demonstrate the source of purchase funds.
• Advise early if funds are coming from multiple sources.
• Inform their representative if purchasing through a company or trust structure.
• Respond promptly to requests for information or supporting documentation.

Your privacy remains important

We understand that some of the information requested may feel personal. Businesses subject to AML/CTF obligations are required by law to collect and verify certain information for compliance purposes. Documents provided are handled securely and used only for verification, compliance and transaction-related requirements in accordance with privacy obligations.

Supporting Buyers Every Step of the Way

For most purchasers, these new requirements will involve providing standard identification and evidence of how the purchase is being funded. The exact documents required will vary depending on individual circumstances and the type of transaction involved.

As the property industry prepares for these changes, our team is committed to helping buyers understand the process and navigate the requirements with confidence. If you're considering purchasing a new home or investment property, we're here to guide you through every step of the journey.

Disclaimer: This article provides general information only and does not constitute legal or financial advice. Requirements may vary depending on your individual circumstances and the services being provided.