As at 2026, a small NSW sales agency with turnover under $3 million provides AUSTRAC designated services. How does the Privacy Act 1988 apply to the ID it collects for AML/CTF?
Correct Answer
C) It applies to that information despite the agency's small-business turnover
The OAIC explains that all reporting entities required to comply with the AML/CTF Act must also comply with the Privacy Act when handling personal information for, or in connection with, their AML/CTF obligations, including small businesses with annual turnover under $3 million. Real estate agents providing designated services became reporting entities from 1 July 2026.
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An assistant agent's sister wants to buy a house that the assistant's employing agency has been retained to sell. How does s 49 of the Property and Stock Agents Act 2002 apply?
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As at September 2026, which change made by the Property and Stock Agents Amendment (Underquoting and Other Agent Conduct) Act 2026 is already in force?