AML Changes Coming in July 2026: What this means for you.

From 1 July 2026, significant changes to Australia’s Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) laws will come into effect. These reforms will expand the scope of the regime to include professional service providers such as accountants, lawyers and real estate agents.

As a valued client of DFK Hirn Newey, we want to keep you informed about what these changes mean and how they may affect you.

What is changing?

Historically, AML/CTF obligations have largely applied to banks and financial institutions. Under the latest reforms (commonly referred to as “Tranche 2”), these obligations will be extended to a broader group of professionals, including accounting firms.

This change aligns Australia with international standards and recognises the important role professional advisers play in safeguarding the financial system.

As a result, from 1 July 2026:

• DFK Hirn Newey Pty Ltd will become a reporting entity under the AML/CTF Act
• We will be regulated by AUSTRAC (the Australian Transaction Reports and Analysis Centre)
• We will implement additional compliance processes in line with legislative requirements

What does this mean for you?

For the majority of our clients, there will be little to no change to our day-to-day interactions.

Routine services such as tax returns, BAS preparation, bookkeeping & general business advisory will not be impacted by these reforms.

However, for certain types of engagements that are considered higher risk or a "designated service", we will be required to undertake additional verification and due diligence measures. These may include situations where we assist with:

• Property transactions
• Establishing or restructuring companies or trusts
• Acting as a registered ASIC agent or providing a registered office address
• Managing or handling client funds

If these requirements apply to you, we will guide you through the process and explain exactly what is needed.

What is DFK Hirn Newey doing to prepare?

We are already well advanced in preparing for these changes. Our approach includes:

• Developing and implementing a comprehensive AML/CTF compliance program
• Rolling out staff training across the firm
• Updating internal systems and client processes

Our goal is to ensure that the transition is smooth, efficient and minimally disruptive for our clients.

Do you need to take any action?

At this stage, you do not need to do anything.

If we require additional information or documentation from you in the future, we will contact you directly and provide clear guidance on what is required and why.

We’re here to help

We understand that regulatory changes can raise questions. If you would like to learn more about how these reforms may impact you or your business, please don’t hesitate to contact your DFK Hirn Newey adviser.