New Requirements8/7/2026 You may notice that we're asking for a little more information than we have in the past.
From 1 July 2026, Australian law requires law firms to verify the identity of clients and, in some cases, collect additional information before providing certain legal services. These new requirements are part of Australia's efforts to combat money laundering, terrorism financing and other serious financial crime. As lawyers, we tend to see things after they’ve gone wrong. Consider this a little nudge to do some housekeeping now—before it becomes a much bigger problem later.
Let me give you two real world examples from just the past year: 1. The Case of the Wrong Building A client was diligently paying insurance on their property… except it wasn’t their property. Due to an administrative mix up, the policy covered the building next door. If disaster had struck, they would have been left without insurance on their building. 2. Residential Insurance, Commercial Reality Why We Verify Your Identity
Verification of Identity (VOI) helps ensure that the person giving instructions or signing documents is genuinely who they say they are. This reduces the risk of identity theft and property fraud and helps protect you, your assets, and the integrity of your matter. In Queensland, lawyers are required to take “reasonable steps” to verify a client’s identity, particularly in property transactions and matters involving registry documents. VOI is a common and accepted way of meeting these obligations. VOI itself does not confirm your authority to act (for example, as an attorney or company director). Additional checks may be required. Merry Christmas17/12/2025 Effective from 1 August 2025, Queensland will implement a new seller disclosure regime under the Property Law Act 2023 and the accompanying Property Law Regulation 2024. This initiative aims to enhance transparency and consistency in property transactions by clearly outlining the obligations of sellers to disclose pertinent information to prospective buyers.
Recent Changes to the Foreign Resident Capital Gains Withholding Rules: What You Need to Know6/5/2025 Australia's Foreign Resident Capital Gains Withholding (FRCGW) regime, introduced in 2016, ensures that foreign investors meet their Australian tax obligations when disposing of certain taxable Australian property. Effective from 1 January 2025, significant amendments to this regime have been implemented, increasing compliance obligations and broadening the scope of transactions subject to withholding. This article outlines the key changes, the policy rationale behind them, and practical considerations for affected businesses and individuals. |
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