Real Estate Agent Trust Account Audit in Canberra (ACT)
💲 From $599 + GST See pricing
Independent trust account audits for licensed property agents in Canberra and across the ACT. UV TAX audits your trust records for the financial year, prepares the auditor's report required under the Agents Act 2003, and keeps you inside the 3-month deadline set by the ACT Commissioner for Fair Trading.
✓ Free consultation✓ Fixed-fee quote, no surprises✓ Canberra & surrounding ACT
Who needs a trust account audit in the ACT?
Under the Agents Act 2003 (ACT), a licensed property agent who held trust money during an audit period must have their trust records audited by a qualified auditor. This covers real estate sales agencies, property managers, strata and business agents holding rent, deposits, bonds or other client money in trust.
The obligation also applies to former licensed agents and to the personal representatives of a deceased agent who held trust money during the period.
ACT trust audit deadlines at a glance
| Requirement | What the Agents Act 2003 requires |
|---|---|
| Audit period | Each financial year (1 July – 30 June), unless the Commissioner for Fair Trading fixes a different period by written notice |
| Audit deadline | Records audited by a qualified auditor within 3 months after the end of the audit period — generally by 30 September — or any longer period the Commissioner allows |
| Auditor's report | Given to the Commissioner for Fair Trading as soon as practicable after the audit, with a copy to the agent |
| Unclaimed trust money | Statement to the Commissioner by 31 July for trust money held more than 3 years as at 1 July |
| Ceasing to be licensed | Statement of trust money held given to the Commissioner within 3 months |
| Failure to audit | Strict liability offence — maximum penalty of 50 penalty units |
Our Canberra trust account audit service
Qualified auditor
Audits signed by a member of the Institute of Public Accountants in line with the ACT's auditor qualification requirements.
Report to the Commissioner
We prepare and give the auditor's report to Access Canberra (Fair Trading) and send you a copy.
Full opinion coverage
Our report addresses every matter in section 118 — record keeping, availability of records, discrepancies and missing records.
Unclaimed money
We help identify trust money held more than 3 years so you can lodge your 31 July statement correctly.
Partnerships & closures
Audits for partnerships, agencies ceasing to trade, and estates of licensed agents.
Practical recommendations
Plain-English findings and fixes to strengthen your trust accounting before next year's audit.
What we check during the audit
- Trust account records kept as required by Part 7 of the Agents Act 2003
- Monthly reconciliations of trust bank account, cash book and client ledgers
- Receipts, deposits and authorised payments from trust
- Any discrepancy relating to a trust account
- Missing records or records not kept in a way that allows a proper audit
- Unclaimed trust money held for more than 3 years
- Any other matter the Commissioner for Fair Trading or the agent should be told about
How it works
Free consultation
Call 0466 268 405 to talk through your agency, trust accounts and software.
Fixed quote
Receive a free, fixed-fee quote before we begin — no hourly billing surprises.
Audit fieldwork
Securely share your reports and bank statements. Most work is done remotely.
Report delivered
Auditor's report issued to the Commissioner and to you well within the 3-month window.
Book a free consultation & get a free fixed quote
Get your Canberra trust account audit done right and on time. Speak with UV TAX today.
0466 268 405Frequently asked questions
When is the trust account audit due for real estate agents in Canberra?
The audit period is each financial year unless the Commissioner for Fair Trading sets a different period. The trust records must be audited within 3 months after the end of the audit period — usually by 30 September — unless the Commissioner allows a longer period.
Who receives the auditor's report in the ACT?
Under section 118 of the Agents Act 2003, the auditor gives the report to the Commissioner for Fair Trading (administered through Access Canberra) as soon as practicable after the audit, and gives a copy to the licensed property agent.
What happens if my trust account isn't audited on time?
Failing to have trust records audited within the required period is a strict liability offence with a maximum penalty of 50 penalty units, and can also affect your licence.
Do I need to report unclaimed trust money?
Yes. If on 1 July you hold trust money received more than 3 years earlier, you must give the Commissioner a statement about that money by 31 July of the same year.
How much does an ACT trust account audit cost?
It depends on the number of trust accounts, transaction volume and the condition of your records. Call 0466 268 405 for a free consultation and a free fixed-fee quote before any work starts.
Related services
Information on this page is general in nature and based on the Agents Act 2003 (ACT) as at November 2026. Requirements can change — always confirm your obligations with Access Canberra or speak with us.