What changes
- Money received into trust in connection with a designated service is part of that service. Money held only for payments incidental to non-designated work, such as litigation settlement funds, and payments to courts, the ATO or insurers are excluded.
- Physical cash of AU$10,000 or more received into trust triggers a threshold transaction report within 10 business days.
- Unusual movements through trust are a classic trigger for a suspicious matter report.
What does not change
Trust account rules, external examinations and receipting continue as before. AML records sit alongside them.
Practical policy
Most small firms decide not to accept cash of AU$10,000 or more, state it in the program and never lodge a TTR.
Questions people ask
- Does the trust account examiner check AML?
- The external examination is a legal profession requirement. AUSTRAC is the AML regulator. Keep both sets of records complete.
Sources
Official AUSTRAC guidance this page was checked against. The date is when we captured the page; AUSTRAC may have updated it since.
- Professional designated services · AUSTRAC, captured 14 Sept 2026
- Threshold transaction reports · AUSTRAC, captured 07 June 2026
- Suspicious matter reports · AUSTRAC, captured 07 June 2026
This guide is general information for solicitors, conveyancers, settlement agents, not legal advice. Check AUSTRAC's current guidance for your situation.