Dealing with trust accounts in the motor industry
Opening or closing trust accounts in the property, motor, auction and debt collector industry
You need a trust account if you collect debts on behalf of someone else. Find out what you need to do to open and deal with your trust account.
Handling trust money in the motor industry
Use a trust account to handle money on behalf of someone else. Find out about receiving money, issuing receipts and withdrawing from a trust account.
Trust and non-trust money
Trust money is money you handle on behalf of someone else. Find out the difference between trust money and non-trust money.
Trust account audits for the motor industry
If you are an agent in the motor industry you must appoint an auditor who will inspect and report on your trust accounts. Find out how to lodge their report and when it will be due.
Conducting trust account audits under the Agents Financial Administration Act 2014
A licensee is responsible for lodging their own audit report/s, although auditors can lodge audit reports on their behalf. Find out what an auditor must immediately report to us.