67 - How AML/CTF may now affect your small business

1 July 2026 Law Changes: Tranche Two AML/CTF Rules Now Apply to Jewelers and Precious Metal Dealers On 1 July 2026, multiple national changes begin: the lowest marginal income tax rate drops from 16% to 15% for $18,201–$45,000 (employers must apply updated PAYG tables), individuals can claim a $1,000 work expense deduction without receipts, and super caps rise (concessional cap to $32,500 and transfer balance cap to $2.1m) while the SG rate stays at 12%; wage, payday super and parental leave changes were covered in episode 65. The episode focuses on AML/CTF Tranche Two, extending AUSTRAC regulation to many sectors, including dealers in precious metals, stones and products, where $10,000+ cash or digital currency transactions (including structured linked payments) trigger obligations such as AUSTRAC enrollment by 29 July, a compliance officer, risk assessment, written AML/CTF program, customer ID checks, threshold and suspicious matter reporting, staff training, and 7-year recordkeeping, with severe penalties for non-compliance. 00:00 New Financial Year Changes 03:06 Tax And Super Updates 04:47 Tranche Two Explained 06:24 Who Gets Captured 07:49 Ten Thousand Dollar Rule 10:04 Bullion Dealer Notes 10:48 Core Compliance Duties 14:14 Real World Example 15:10 Customer Experience Tips 16:13 Penalties And Enforcement 17:18 Seven Step Action Plan 19:40 Wrap Up And Resources Employment law changes (wages, Payday Super, PPL):  Episode 65 — businessknowhow.com.au AUSTRAC enrolment portal (AUSTRAC Connect):  austrac.gov.au AUSTRAC guidance for dealers in precious metals, stones and products:  austrac.gov.au AUSTRAC bullion dealers overview and quick guide:  austrac.gov.au ATO updated PAYG withholding tables:  ato.gov.au ATO income tax rate changes:  ato.gov.au/about-ato/new-legislation/in-detail/individuals/personal-income-tax-new-tax-cuts