The extension of Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) laws to real estate agencies represents a significant and unavoidable shift in responsibility imposed by the Government.

Agencies are now expected to act as frontline gatekeepers for every transaction, regardless of value or perceived risk, and no size, value or simplicity of deal is exempt. 

The principles of AML appear straightforward, but the reality is very burdensome, requiring detailed work and the ability to hold evidence long after a transaction has settled - not a tick-and-flick exercise and the consequences of poor execution sit squarely with the Principal.

Who would you turn to? Many providers in the market are offering AML platforms, systems, onboarding tools, templates, and training — all necessary components. 

However, these tools do not answer the most critical question principals must now confront: how will this be resourced in practice? 

From 1 January 2025, underpaying your agency's employees could lead you into hot water — this means fines, jail time, or both. Honest mistakes are excluded.

Have you diarised your Commission-Only MITA reviews?

Time is drawing to an end to access the generous Immediate Asset Write Off.

Electric cars are apparently good for the environment. They may be even better for your agency’s bank account too!

As much as nobody likes industry rumours, some unfortunately end up being true. One franchised agency has allegedly been hit with a reported $700,000 in payroll tax, penalties and interest.

Section 550(2) of the Fair Work Act 2009 which covers accessorial liability, can hold you personally liable for workplace breaches, which include errors in payroll and HR.