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AML/CTF Rules 2026: What Australian Accountants Need to Know

New AML/CTF Compliance Rules for Accountants in Australia – Effective July 2026 Based on the proposed Anti-Money Laundering and Counter-Terrorism Financing Rules 2024 (AML/CTF Rules) in Australia, accountants who provide designated services under the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (AML/CTF Act) are considered reporting entities and must comply with the relevant AML/CTF obligations. Below is a [...]

What is Trust Accounting? – How It Works, Software To Use

Introduction In the world of tax advisory, trust accounting aka statutory trust accounting plays a critical role, especially for tax practitioners and accounting firms. Understanding what trust accounting is and how it works is crucial to stay compliant. In this blog, we will delve into the intricacies of trust accounting, explore how it works, and [...]

Simplifying Trust Account Management for Australian Accounting Firms

If you're a tax practitioner (Member in Practice) seeking a refresher on trust account requirements, you're in the right place. Our blog, authored by our product manager Dinesh Choradiya, CPA, is here to simplify the statutory trust account management requirements applicable to Australian accounting firms (Members in Practice). Every accounting firm (MIP) that deals with [...]

Unlocking Opportunities with Open Banking in Australia: How TrustEasy Empowers Accounting Firms

There is a simple 12 step process to connect TrustEasy with the trust account of the accounting firm. Once successfully connected, Accounting Firms can take advantage of Open Banking Bank Feeds. In recent years, the financial landscape in Australia has been undergoing a significant transformation with the introduction of Open Banking. This initiative promises to [...]

Optimize Your Trust Accounting: 10 Reasons Why TrustEasy is the Ideal Choice for Australian Accounting Firms

In the dynamic world of tax practice, choosing the right trust accounting software is crucial for Australian accounting firms dealing with "fee from refund" cases. TrustEasy, a specialized Statutory Trust accounting software, stands out as the premier choice. Explore the top 10 features that make TrustEasy the go-to solution for Australian accounting firms seeking efficiency, [...]