Tranche 2 is live 1 July 2026.
Roughly 90,000 firms become reporting entities.

1 July 2026. The AML/CTF Amendment Act 2024 (Cth) passed Parliament in November 2024 and extends the reporting-entity regime under the AML/CTF Act 2006 (Cth) to accountants, law firms, real estate agents, trust and company service providers, and precious metals dealers on that date.

Roughly 90,000 Australian businesses: approximately 36,717 accountants and tax agents, about 36,700 lawyers (78% in sole or small practice), 45,440 real estate agencies, plus trust and company service providers and precious metals dealers. The capture is services-based — an entity is a reporting entity only in respect of the designated services it provides.

31 March 2026. Reporting entities must be enrolled before they commence providing a designated service after 1 July 2026. Enrolment is via the AUSTRAC Online portal and takes several weeks to process.

Enrol with AUSTRAC; adopt an AML/CTF program (Part A risk assessment plus Part B customer due diligence); appoint an AML Compliance Officer; run customer identification and verification; report suspicious matter reports (SMRs) and threshold transaction reports (TTRs) of AUD 10,000 or more. Records are retained for seven years.

Ironbark is an AU-native screening product. In one screen it verifies a customer entity against the Australian Business Register, the ASIC company and director registers, the ASIC banned-and-disqualified-persons register, the AUSTRAC reporting-entity and enforcement registers, the DFAT consolidated sanctions list, AFSA personal-insolvency records, and the Federal Court of Australia. The report is a timestamped PDF plus JSON artefact for the reporting entity's seven-year record. $0.49 per screen. Credits never expire.

No. Ironbark discharges the screening component of customer due diligence. The AML/CTF program document, the AMLCO appointment, the SMR and TTR reporting workflow, and seven-year record-keeping remain the reporting entity's responsibility. Industry associations (CPA Australia, Law Societies, REIA branches) publish template programs and templates — those plus Ironbark plus an AMLCO is the common minimum setup for a sole practice.

A threshold transaction is one involving the receipt, payment, or transfer of AUD 10,000 or more (or its foreign-currency equivalent) where the reporting entity is a party. Structured transactions — multiple transactions deliberately kept below the threshold — are also caught. A TTR must be lodged with AUSTRAC within 10 business days of the transaction.

The primary instruments are the AML/CTF Act 2006 (Cth), the AML/CTF Rules Instrument 2007 (No. 1), and the AML/CTF Amendment Act 2024 (Cth). AUSTRAC publishes plain-language guidance and worked examples on its website. Industry associations — Law Council of Australia, CPA Australia, REIA — publish sector-specific commentary.