Trust Account Troubles? NSW Fair Trading’s Latest Crackdown Shows Why You Need Help
Are you losing sleep over Trust Account compliance? You’re not alone. NSW Fair Trading’s latest enforcement update shows just how seriously they’re taking Trust Account violations – and the numbers are eye-opening.
The Reality Check: $114,970 in Penalties
Between January and June 2025, NSW Fair Trading didn’t hold back. They issued 79 fines totaling $114,970 across property sectors, with Trust Account breaches front and center.
Real Agencies, Real Consequences
Here’s what happened to agencies that got it wrong:
- Prime Finance & Investments: Complete licence cancellation plus $22,000 penalty
- 8793 Pty Ltd: $22,000 fine and mandatory retraining
- Shear Property Group: $11,000 penalty
- Six other agencies: $5,500 penalties each
Urgent: 2023-24 Audits Are Overdue
If you haven’t submitted your Trust Account audit yet, you’re officially late. Fair Trading isn’t messing around – late submissions without approved extensions face immediate penalties, including licence suspension.
Common Trust Account Mistakes We See
Our Angels team regularly helps agencies avoid these costly errors:
- Mishandling Rental Bond transactions
- Poor Trust Account record keeping
- Missing audit deadlines
- Inadequate reconciliation processes
Why Choose End of Month Angels?
We’ve been protecting Real Estate agencies from Trust Account troubles for years. Our friendly, experienced team ensures your compliance is rock-solid, so you can sleep peacefully knowing your licence is safe.
Don’t Risk It – Get EOMA to Help Today
Trust Account compliance doesn’t have to be stressful. Let our Angels handle the heavy lifting while you focus on what you do best – growing your business.
Contact End of Month Angels today for peace of mind.