Threshold transaction reports (TTRs)
When you must report a cash transaction to AUSTRAC.
A threshold transaction report is a report of a transaction involving the transfer of physical currency (or e-currency) of AU$10,000 or more, or the foreign currency equivalent.
For real estate, "cash" means physical currency. Bank transfers, cheques (other than cash cheques), trust account deposits made by EFT, and electronic conveyancing payments are not cash transactions and do not trigger a TTR. The threshold applies to physical notes and coins.
When it applies in real estate. TTRs are rare in real estate because most property transactions settle through electronic conveyancing platforms (PEXA) and banked deposits. The realistic scenarios are:
- A buyer pays a deposit in physical cash at the agency (this should be exceptional and itself raises ML/TF risk concerns)
- A buyer presents physical cash at any point in the transaction
- Multiple cash transactions that aggregate to AU$10,000 or more and appear connected (structuring) — these may also trigger an SMR
Deadline. A TTR must be filed within 10 business days of the transaction.
How to file. TTRs are filed through AUSTRAC Online. You will need details of the customer, the transaction, the parties, and the source of the cash.
A TTR is a factual report — it does not imply suspicion. If a transaction is both a threshold transaction and suspicious, both an SMR and a TTR are required, and the SMR deadlines (24 hours / 3 business days) apply to the suspicion element.
Best practice. Most agencies will adopt a "no cash" policy for deposits and settlements as a matter of operational simplicity. A written policy reduces but does not eliminate the obligation — if cash is presented and accepted, the TTR must still be filed.
Cash transactions are rare but not nil, and every one must be tracked, reported, and retained for seven years against AUSTRAC's audit-ready format requirements.
What to do next: Adopt a written cash-handling policy for your trust account and deposits, and brief all staff on the TTR threshold and reporting path.