| Audit Period: |
1 July to 30 June
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| Audit Due Date: | 30 Sep |
| Audit Report submitted to: |
Lodge the audit report via your online account with Access Canberra
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| Access Canberra Contact: |
Key information:
Access Canberra is responsible for licensing of real estate, business & stock and station agents under the Agents Act 2003.
Under the Agents Act, all licensed agents, including all licensed owners corporation managing agents, must hold trust money in a trust account kept at an authorised deposit taking institution in the ACT.
At the end of each quarter a licensed agent must prepare a quarterly statement for the Commissioner. The quarterly statement must:
– be prepared within 15 business days after the end of each quarter
– be made as at the close of business on the last day of business to which the statement relates
– state the name of each person on whose behalf the licensed agent held trust money
– state the amount of trust money held in the agent’s trust accounts on behalf of the person
– state the amount of the trust money held in cash by the agent held on behalf of the person
– state the amount in each trust account kept by the agent (in working out this amount, include cheques drawn on the account but not presented as taken to have been paid)
– be kept for up to five years after the end of the quarter to which the statement relates
– must be audited by a qualified auditor within three months (30 Sep) after the end of the audit period (1 July to 30 June), or longer if allowed by the Commissioner.
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