28/01/2025
If you are a real estate agent or conveyancer managing a trust account and have not yet submitted your audit for the 2023-2024 audit year, this is now overdue.
Audits for trust accounts must be submitted by 30 September each year, even if the trust account was only operated for part of the audit year or was closed before 30 June of that year.
If you have not submitted your audit, please engage an auditor immediately, as:
• Penalties may apply for late submissions that don't have extension approval.
• Agents and conveyancers who don't submit their audits may have their licence suspended and risk a maximum penalty of $22,000.
You can lodge your trust account audit online: https://www.audit.fairtrading.nsw.gov.au/eaudit/s
