http://www.cleardocs.com/clearlaw/professional-adviser-related/index.html ClearLaw articles The-High-Cost-of-Ignoring-Australias-New-AML-CTF-Reforms <script async defer src="https://proxy.beyondwords.io/npm/@beyondwords/player@latest/dist/umd.js" onload="new BeyondWords.Player({ target: this, projectId: 53799, contentId: 'a6f109dd-0d84-4c2e-90ce-a62d8801611f' })"> </script> <p></p> <p>Australia is on the brink of a major expansion of its anti-money laundering and counter-terrorism financing (AML/CTF) laws. From 1 July 2026, a host of professionals, previously unregulated by AML/CTF laws – including lawyers, accountants, real estate agents, jewel and precious metal dealers, and trust or company service providers which provide ‘designated services’ – will be required to comply with the strengthened AML/CTF regime as “Tranche 2 reporting entities”. </p> Mon, 20 Jul 2026 08:57:17 GMT Cleardocs Team 1367 Continuing-to-Bend-It-Like-Bendel-the-High-Court-confirms-unpaid-present-entitlements-are-not-to-be-considered-loans-under-Division-7A <script async defer src="https://proxy.beyondwords.io/npm/@beyondwords/player@latest/dist/umd.js" onload="new BeyondWords.Player({ target: this, projectId: 53799, contentId: 'e7fc5812-344c-4a70-9ec3-edcbabbaa057' })"> </script> <p></p> <p>On 10 June 2026, the High Court delivered its greatly anticipated decision in Commissioner of Taxation v Bendel.<a href="#_ftn1" name="_ftnref1">[1]</a> The majority confirmed that a trust’s unpaid present entitlements (<strong>UPEs</strong>) owed to a corporate beneficiary do not constitute a ‘loan’ for the purposes of Division 7A of the Income Tax Assessment Act 1936 (Cth). In doing so, the High Court rejected the ATO’s long-standing position that the amount of the UPE will result in a deemed dividend in the hands of the trustee (on the assumption that the loan is not on complying Division 7A terms).</p> <p>This article outlines the key facts of the Bendel decision and its implications for trust structures as the 2025–26 financial year draws to a close. It also highlights other mechanisms available to the Commissioner and considers the broader impact of the proposed changes to the taxation of trusts announced in the Federal Government’s 2026–27 Budget.</p> Mon, 20 Jul 2026 08:57:11 GMT Heidi Macuz, Maddocks Lawyers 1366 How-the-AUSTRAC-process-applies-to-lawyers <script async defer src="https://proxy.beyondwords.io/npm/@beyondwords/player@latest/dist/umd.js" onload="new BeyondWords.Player({ target: this, projectId: 53799, contentId: '233403a7-253e-40cb-946a-85e9b3cbf2b7' })"> </script> <p></p> <p>From 1 July 2026, certain legal services will be regulated under Australia’s Anti‑Money Laundering and Counter‑Terrorism Financing (<strong>AML/CTF</strong>) regime. These reforms which introduce newly captured “reporting entities” — known as “Tranche 2 entities” — are administered by AUSTRAC and will introduce new compliance obligations for law firms that provide designated services.</p> <p>This article explains when lawyers are captured as Tranche 2 entities and what the AML/CTF obligations look like in practice — in simple, practical terms</p> Thu, 25 Jun 2026 01:57:38 GMT Cleardocs Team 1333 What-the-AUSTRAC-changes-mean-for-accountants <script async defer src="https://proxy.beyondwords.io/npm/@beyondwords/player@latest/dist/umd.js" onload="new BeyondWords.Player({ target: this, projectId: 53799, contentId: '8c1c9b0a-6744-4a77-a5ca-9f903e8724a8' })"> </script> <p></p> <p>From 1 July 2026, certain services commonly provided by accountants will be regulated under Australia’s Anti‑Money Laundering and Counter‑Terrorism Financing (<strong>AML/CTF</strong>) regime for the first time. These changes —which apply to ‘Tranche 2’ entities — are administered by Australia's AML/CTF regulator AUSTRAC and will introduce new compliance obligations for accountants that provide designated services.  </p> <p>This article explains when accountants are captured as Tranche 2 entities and what the AML/CTF obligations look like in practice — in simple, practical terms.</p> Thu, 25 Jun 2026 01:57:35 GMT Cleardocs Team 1332 Nominating-a-purchaser-into-a-contract-of-sale-can-have-adverse-Victorian-stamp-duty-consequences <script async defer src="https://proxy.beyondwords.io/npm/@beyondwords/player@latest/dist/umd.js" onload="new BeyondWords.Player({ target: this, projectId: 53799, contentId: 'be9779cd-6839-4437-bc63-6459663276b5' })"> </script> <p></p> <p>This article covers unintended ‘double’ stamp duty consequences which may arise when nominating a new purchaser into a contract of sale to acquire Victorian land.  The article includes:</p> <ul> <li>what it means to ‘nominate’ a purchaser;</li> <li>practical guidance of when double stamp duty could be payable; and</li> <li>tips for purchasers and advisors to reduce exposure to double duty risks.</li> </ul> Thu, 28 May 2026 03:38:30 GMT Jack Leeds, Maddocks Lawyers 1301 How-to-Prepare-for-KYC-A-Practical-Guide-for-Cleardocs-Customers <script async defer src="https://proxy.beyondwords.io/npm/@beyondwords/player@latest/dist/umd.js" onload="new BeyondWords.Player({ target: this, projectId: 53799, contentId: 'c45973ac-f8ca-4dc9-9239-086f34a5a429' })"> </script> <p></p> <p>With upcoming changes under the AML/CTF Tranche 2 reforms, Know Your Client (KYC) requirements will soon become a key part of how you work with Cleardocs.</p> <p>While Cleardocs itself is <span style="font-weight: bold;">not classified as a designated service</span>, new compliance obligations mean that KYC will be required when creating and managing entities such as companies, trusts, and SMSFs.</p> <p>Here’s what you need to know—and how to prepare.</p> Thu, 28 May 2026 03:32:51 GMT Cleardocs Team 1299 Updates-to-AML-CTF-Rules-New-requirements-for-AML-CTF-regime <script async defer src="https://proxy.beyondwords.io/npm/@beyondwords/player@latest/dist/umd.js" onload="new BeyondWords.Player({ target: this, projectId: 53799, contentId: '1902f0d2-f981-4af8-8964-b487522cac1a' })"> </script> <p></p> <p><em>Australia’s anti</em><em>‑money laundering and counter</em><em>‑terrorism financing (<strong>AML/CTF</strong>) regime is moving into a new phase. In 2024 and 2025, Parliament passed major changes to the AML/CTF laws, which set up a new framework for how the regime will operate. The ‘Tranche 2’ reforms, which expand the range of services and types of organisations captured by AML/CTF obligations, will commence from 1 July 2026.<a href="#_ftn1" name="_ftnref1">[1]</a></em></p> <p><em>Supporting the legislative changes introduced by the new AML/CTF regime, AUSTRAC issued new Rules<a href="#_ftn2" name="_ftnref2">[2]</a> which were tabled in Parliament in August 2025. Shortly before the Rules were due to take full effect on 31 March 2026, AUSTRAC made further changes to address minor issues, improve the effectiveness of the Rules, and simplify compliance obligations – particularly for corporate groups.<a href="#_ftn3" name="_ftnref3">[3]</a></em></p> <p><em>This article provides an overview of the key changes introduced by the amendments to the Rules that reporting entities should be aware of to ensure compliance with the new AML/CTF regime. </em></p> <p> </p> Wed, 29 Apr 2026 09:51:23 GMT Gabriella Valadon, Maddocks Lawyers 1236 AML-CTF-Tranche-2-The-Legislation-Behind-the-Reforms <script async defer src="https://proxy.beyondwords.io/npm/@beyondwords/player@latest/dist/umd.js" onload="new BeyondWords.Player({ target: this, projectId: 53799, contentId: '315d81ca-5c15-4d56-8624-93dea5e5a8cd' })"> </script> <br></br> <p>Australia’s Anti-Money Laundering and Counter-Terrorism Financing (<strong>AML/CTF</strong>) Tranche 2 reforms are not policy ideas or guidance notes — they are grounded in formal legislation passed by Parliament and supported by binding rules and detailed government analysis. If you’re looking for the “why”, the legal authority, and the policy reasoning behind the changes, it starts with one key law.</p> Wed, 29 Apr 2026 09:51:18 GMT Cleardocs Team 1235 AML-CTF-reforms-for-Tranche-2-entities-what-accountants-and-lawyers-must-be-ready-for <script async defer src="https://proxy.beyondwords.io/npm/@beyondwords/player@latest/dist/umd.js" onload="new BeyondWords.Player({ target: this, projectId: 53799, contentId: '48150011-0d67-415d-a1ea-4c5928a64e7d' })"> </script> <p></p> <p>From 1 July 2026, Australia’s anti-money laundering and counter terrorism financing (<strong>AML/CTF</strong>) laws will change.<a href="#_ftn1" name="_ftnref1">[1]</a> For many accountants and lawyers, the impact will be significant.</p> <p>Under the AML/CTF reforms, a range of professional services that were previously outside the regime will become regulated by AUSTRAC<a href="#_ftn2" name="_ftnref2">[2]</a>. If your firm helps clients set up companies or trusts, manages client money, or assists with certain transactions, you may soon have formal AML/CTF obligations for the first time.</p> <p>This article explains what's changing, who is in scope, and why now is the right time to start preparing.</p Wed, 29 Apr 2026 09:50:00 GMT Cleardocs Team 1266 Directors-Duties-in-Focus-Practical-Insights-from-ASIC-and-the-Federal-Court <script async defer src="https://proxy.beyondwords.io/npm/@beyondwords/player@latest/dist/umd.js" onload="new BeyondWords.Player({ target: this, projectId: 53799, contentId: '091e64c7-5528-46cd-b427-b7d73ce74a46' })"> </script> <p></p> <p>Australia’s directors’ duties are back in focus following a recent Federal Court decision concerning the directors of Star Entertainment Group Limited (<strong>Star</strong>). <a href="#_ftn1" name="_ftnref1">[1]</a></p> <p>The case highlights that while the role of directors is becoming more complex — driven by technology and higher regulatory expectations — meeting directors’ duties is still achievable and remains critical to strong, compliant organisations.</p> <p>This article explains the practical implications of the case, including how directors can improve the way board information is managed, use artificial intelligence (<strong>AI</strong>) tools appropriately, and take practical steps to continue meeting their core duties in an increasingly complex regulatory environment.</p> Tue, 24 Mar 2026 04:24:15 GMT Jasmine Joyce, Maddocks Lawyers 1202