Banks & ADIs compliance obligations in Tasmania: trading trust
Computed by the Rules Mate applicability engine for a trading trust with 6–19 employees, turnover $1M–$3M, in banks & adis, operating in Tasmania and selling to consumers and small businesses.
Short answer: 67 obligations
67 obligations apply (32 critical) across 25 regulators, plus 13 to check. Risk rating: high. Licensed or supervised regime: AML/CTF reporting entity, credit provider, APRA-regulated. These carry licence conditions, regulator audit and per-contravention civil penalties.
Trading trust or company: what changes
Compared with the same business run through a Pty Ltd company (6–19 employees) in Tasmania, 1 obligation applies that did not, and 9 drop away.
- No longer applies: Apply for a Director Identification Number (Director ID)
- No longer applies: Comply with directors' general law and statutory duties
- No longer applies: Prevent insolvent trading (s 588G)
- No longer applies: Pay company PAYG/GST/SG or face Director Penalty Notice (DPN)
- No longer applies: Lodge the ASIC annual company statement and review fee
- No longer applies: Determine large proprietary company status annually
- No longer applies: Pay ASIC fees + lodge prescribed forms
- No longer applies: Discharge of directors' duties — practical evidence
Tasmania law that applies
2 Tasmania obligations apply on these facts, and 1 more is worth checking:
| Obligation | Why it applies |
|---|---|
| PCBU primary duty of care (TAS WHS Act s 19) | Every business is a PCBU — the primary duty of care applies whether or not you employ anyone · TAS law |
| Industrial manslaughter offence (TAS WHS Act s 29C) | Applies to every PCBU and its officers — a death caused by reckless or negligent breach of a WHS duty is a crime · TAS law |
| Pay Tasmanian payroll tax when threshold met | Check: applies only if your annual Australian wages (grouped) exceed $1.25M |
Payroll tax in Tasmania (FY2026-27)
TAS: 4% / 6.1% on Australian wages above the $1.25 million tax-free threshold (FY2026-27). On these facts it may apply: 6–19 employees in TAS — enter annual payroll to confirm; it applies only if your annual Australian wages (grouped) exceed $1.25M.
- How the threshold works
- Two-tier marginal structure on total Australian (grouped) wages.
- Returns
- Monthly by the 7th of the following month; annual reconciliation by 21 July
- Administered by
- SRO Tas
Tasmania regulators
Where the obligations sit
| Area | Obligations |
|---|---|
| Privacy | 10 |
| Aml ctf | 8 |
| Tax | 7 |
| Workplace | 7 |
| Whs | 4 |
| Credit | 4 |
| Super | 2 |
| Financial services | 2 |
| Apra | 2 |
| Far | 2 |
Critical obligations on this profile
- Enrol with AUSTRAC as a reporting entity (Authorised deposit-taking institution — AML/CTF reporting entity)
- Maintain a written AML/CTF program (Authorised deposit-taking institution — AML/CTF reporting entity)
- Customer due diligence (KYC) on every customer (Authorised deposit-taking institution — AML/CTF reporting entity)
- Suspicious matter, threshold, and IFTI reporting to AUSTRAC (Authorised deposit-taking institution — AML/CTF reporting entity)
- Notifiable Data Breach (NDB) scheme (AML/CTF reporting entity — covered by the Privacy Act for AML/CTF activities (s 6E(1A)))
- Pay superannuation on every payday (Payday Super) (You have employees (6–19))
- Pay employees in accordance with the applicable modern award (You have employees (6–19))
- Manage psychosocial hazards at work (You have employees (6–19))
Check whether these apply
- Mortgage broker best interests duty: only if you are a mortgage broker
- Small Amount Credit Contract + Consumer Lease caps (post-SACC reforms): only if you provide small amount credit contracts or consumer leases
- Lodge an FBT return and pay FBT by 21 May: only if you provide fringe benefits (cars, entertainment, loans) to employees
- Wash outbound marketing lists against the Do Not Call Register: only if you make outbound telemarketing calls
- Pay Tasmanian payroll tax when threshold met: only if your annual Australian wages (grouped) exceed $1.25M
- Influencer + ad disclosure under ACL + AANA Code: only if you advertise to consumers or engage influencers
- Pre-2025 ban on unsolicited credit limit increase invitations: only if you issue credit cards
- Pay redundancy under NES (s 119 FW Act): only if you have 15 or more employees (FW Act s 121 small business exemption)
Thresholds to watch
- Lose the Privacy Act small-business exemption at $3M annual turnover (removal of the exemption altogether is proposed, not yet law) (threshold $3M; very close)
Questions
- How many compliance obligations apply to banks and ADIs in Tasmania run through a trading trust with 6–19 employees?
- 67 obligations apply (32 critical) across 25 regulators, plus 13 to check. Risk rating: high. Licensed or supervised regime: AML/CTF reporting entity, credit provider, APRA-regulated. These carry licence conditions, regulator audit and per-contravention civil penalties.
- Which Tasmania laws apply?
- PCBU primary duty of care (TAS WHS Act s 19) and Industrial manslaughter offence (TAS WHS Act s 29C)
Related
- Banks & ADIs compliance in Tasmania
- Banks & ADIs: all obligations
- Compliance obligations by industry, state and size
- Banks & ADIs in TAS: sole trader
- Banks & ADIs in TAS: sole trader with employees
- Banks & ADIs in TAS: partnership
- Banks & ADIs in TAS: no employees
- Banks & ADIs in TAS: 1–5 employees
- Banks & ADIs in TAS: 20–99 employees
- Banks & ADIs in TAS: 100–499 employees
- Banks & ADIs in TAS: 100–499 employees, turnover $100M–$1B
- Banks & ADIs in TAS: 500+ employees, turnover $1B+
- Banks & ADIs in New South Wales: trading trust
- Banks & ADIs in Victoria: trading trust
- Banks & ADIs in Queensland: trading trust
- Banks & ADIs in Western Australia: trading trust
- Banks & ADIs in South Australia: trading trust
- Banks & ADIs in Northern Territory: trading trust
- Banks & ADIs in Australian Capital Territory: trading trust
- Enrol with AUSTRAC as a reporting entity: does it apply to banks & adis?
- Maintain a written AML/CTF program: does it apply to banks & adis?
- Customer due diligence (KYC) on every customer: does it apply to banks & adis?
- Suspicious matter, threshold, and IFTI reporting to AUSTRAC: does it apply to banks & adis?
Sources
- SRO Tas: payroll tax thresholds and rates
- PCBU primary duty of care (TAS WHS Act s 19)
- Industrial manslaughter offence (TAS WHS Act s 29C)
- Enrol with AUSTRAC as a reporting entity
- Customer due diligence (KYC) on every customer
- Suspicious matter, threshold, and IFTI reporting to AUSTRAC
- Notifiable Data Breach (NDB) scheme
- Pay superannuation on every payday (Payday Super)
Computed by the Rules Mate applicability engine from the published obligation corpus; facts last checked 3 October 2026. Rules Mate is not a law firm and this is general information, not legal advice. Confirm your position with the regulator source or a qualified adviser before acting.