AUSTRAC reporting
Cash, Conveyancing and the $10,000 Rule: TTRs Explained
26 September 2026 · 4 min read
In brief
A threshold transaction report is generally required when a designated service involves A$10,000 or more in physical currency, including the foreign-currency equivalent. The report is due within 10 business days after the transfer.
Most conveyancing money moves electronically, but cash still turns up, and when it does, the rules are strict.
The rule
You must lodge a threshold transaction report (TTR) when you provide a designated service involving the transfer of $10,000 or more in physical currency (bank notes or coins), or the foreign currency equivalent. This includes receiving or paying cash as part of providing the service.
Deadline: within 10 business days after the transfer.
Where it shows up in legal practice
- a buyer who wants to pay part of a deposit in cash
- cash handed over for trust or settlement funds
- mixed payments where only part is cash (only the cash part counts towards the threshold)
Structuring: the warning sign
Structuring is when a customer splits cash into amounts under $10,000 to avoid a TTR, for example three deposits of $9,500 over a fortnight. AUSTRAC expects monitoring to help detect possible structuring and to prompt further investigation and, where required, an SMR.
The data errors AUSTRAC sees in TTRs
AUSTRAC's list of common TTR data-quality issues:
The reportable details for TTRs are in Part 9, Division 2 of the AML/CTF Rules.
- missing or incorrect customer details, for individuals and for companies or other organisations
- missing details for the person who actually conducted the transaction
- incorrect payer, payee or agent details
- foreign-language text or characters
- information entered in the wrong fields
- incomplete transaction details
How Comply.LM helps
- ask "did any part of this involve physical cash?" at each trust receipt - calculate the threshold, including foreign currency conversion - flag cash patterns just under $10,000 - check every mandatory field before a TTR is approved
General information only, not legal advice.
- Today: verified client identities are already in Comply.LM, so customer details in a report come from a checked source rather than retyped notes.
- Coming next: Comply.LM will:
Authoritative sources
This article draws on current AUSTRAC guidance. Always check the source guidance for updates that apply to your circumstances.
Common questions
Does an electronic transfer trigger a TTR?
A TTR concerns physical currency. Electronic international transfers may instead raise IFTI questions, depending on the firm’s role.
What is structuring?
Structuring is splitting cash transactions into smaller amounts to avoid the A$10,000 reporting threshold. The pattern may also support consideration of an SMR.