Motor vehicle dealers overview
From 7 January 2025, motor vehicle dealers who offer customers insurance or act as insurance intermediaries are no longer regulated under the Financial Transactions Reports Act 1988 (FTR Act).
You do not need to submit reports about transactions that occur on or after 7 January 2025, including:
- significant cash transactions of A$10,000 or more (or the foreign currency equivalent)
- suspect transactions.
You still have an obligation to report transactions that occurred on or before 6 January 2025, and may have ongoing record-keeping obligations. Learn about your ongoing obligations following the repeal of the FTR Act, including how to submit a report.
This guidance sets out how we interpret the Act, along with associated Rules and regulations. Australian courts are ultimately responsible for interpreting these laws and determining if any provisions of these laws are contravened.
The examples and scenarios in this guidance are meant to help explain our interpretation of these laws. They’re not exhaustive or meant to cover every possible scenario.
This guidance provides general information and isn't a substitute for legal advice. This guidance avoids legal language wherever possible and it might include generalisations about the application of the law. Some provisions of the law referred to have exceptions or important qualifications. In most cases your particular circumstances must be taken into account when determining how the law applies to you.