Trust & company service providers compliance obligations in New South Wales: partnership
Computed by the Rules Mate applicability engine for a partnership with 1–5 employees, turnover $100K–$1M, in trust & company service providers, operating in New South Wales and selling to consumers and small businesses.
Short answer: 49 obligations
49 obligations apply (20 critical) across 24 regulators, plus 8 to check. Risk rating: high. Licensed or supervised regime: AML/CTF reporting entity. These carry licence conditions, regulator audit and per-contravention civil penalties.
Partnership or company: what changes
Compared with the same business run through a Pty Ltd company (1–5 employees) in New South Wales, 0 obligations apply 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
New South Wales law that applies
4 New South Wales obligations apply on these facts:
| Obligation | Why it applies |
|---|---|
| PCBU primary duty of care (NSW WHS Act s 19) | Every business is a PCBU — the primary duty of care applies whether or not you employ anyone · NSW law |
| Notify SafeWork NSW of notifiable WHS incidents | Every PCBU must notify the regulator of notifiable incidents (death, serious injury, dangerous incident) · NSW law |
| Pay long service leave under the LSL Act 1955 (NSW) | You have employees (1–5) · NSW law |
| Comply with Workplace Surveillance Act 2005 (NSW) | You have employees (1–5) · NSW law |
Payroll tax in New South Wales (FY2026-27)
NSW: 5.45% on Australian wages above the $1.2 million tax-free threshold (FY2026-27). On these facts the business is below the New South Wales threshold, so payroll tax does not apply yet.
- How the threshold works
- Flat tax-free threshold, apportioned by the share of Australian wages paid in NSW and by days employed; only one group member claims it.
- Returns
- Monthly by the 7th of the following month; annual reconciliation by 28 July
- Administered by
- Revenue NSW
New South Wales regulators
Where the obligations sit
| Area | Obligations |
|---|---|
| Privacy | 9 |
| Aml ctf | 8 |
| Workplace | 7 |
| Tax | 6 |
| Whs | 4 |
| Super | 2 |
| Migration | 2 |
| Consumer law | 2 |
| Wages | 1 |
| Discrimination | 1 |
Critical obligations on this profile
- Enrol with AUSTRAC as a reporting entity (Tranche 2 industry (Trust & company service providers) — AML/CTF reporting entity from 1 July 2026)
- Maintain a written AML/CTF program (Tranche 2 industry (Trust & company service providers) — AML/CTF reporting entity from 1 July 2026)
- Customer due diligence (KYC) on every customer (Tranche 2 industry (Trust & company service providers) — AML/CTF reporting entity from 1 July 2026)
- Suspicious matter, threshold, and IFTI reporting to AUSTRAC (Tranche 2 industry (Trust & company service providers) — AML/CTF reporting entity from 1 July 2026)
- 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 (1–5))
- Pay employees in accordance with the applicable modern award (You have employees (1–5))
- Manage psychosocial hazards at work (You have employees (1–5))
Check whether these apply
- 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
- Influencer + ad disclosure under ACL + AANA Code: only if you advertise to consumers or engage influencers
- Track eligibility for the electric car FBT exemption: only if you provide electric vehicles to employees
- Comply with AANA Code of Ethics + community guidelines: only if you advertise to consumers or engage influencers
- Enforce + manage post-employment restraints — current state: only if your contracts contain restraint of trade clauses
- Child Support — employer deductions: only if Services Australia serves you a child support deduction notice
- Electric Cars FBT Exemption (Cwlth): only if you provide electric vehicles to employees
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; approaching)
Check your AML/CTF programUpload the AML/CTF program you already have and get a gap score against the Tranche 2 requirements of the Act and Rules. Personal information is removed before analysis.Primary actionRun the compliance journeyAnswer a short questionnaire about your business and get the obligations that apply to you, with the reason each one applies.
Questions
- How many compliance obligations apply to trust and company service providers in New South Wales run as a partnership with 1–5 employees?
- 49 obligations apply (20 critical) across 24 regulators, plus 8 to check. Risk rating: high. Licensed or supervised regime: AML/CTF reporting entity. These carry licence conditions, regulator audit and per-contravention civil penalties.
- Which New South Wales laws apply?
- PCBU primary duty of care (NSW WHS Act s 19), Notify SafeWork NSW of notifiable WHS incidents, Pay long service leave under the LSL Act 1955 (NSW) and Comply with Workplace Surveillance Act 2005 (NSW)
Related
- Trust & company service providers compliance in New South Wales
- Trust & company service providers: all obligations
- Compliance obligations by industry, state and size
- Trust & company service providers in NSW: sole trader
- Trust & company service providers in NSW: sole trader with employees
- Trust & company service providers in NSW: trading trust
- Trust & company service providers in NSW: no employees
- Trust & company service providers in NSW: 1–5 employees
- Trust & company service providers in NSW: 20–99 employees
- Trust & company service providers in NSW: 100–499 employees
- Trust & company service providers in NSW: 100–499 employees, turnover $100M–$1B
- Trust & company service providers in NSW: 500+ employees, turnover $1B+
- Trust & company service providers in Victoria: partnership
- Trust & company service providers in Queensland: partnership
- Trust & company service providers in Western Australia: partnership
- Trust & company service providers in South Australia: partnership
- Trust & company service providers in Tasmania: partnership
- Trust & company service providers in Northern Territory: partnership
- Trust & company service providers in Australian Capital Territory: partnership
- Enrol with AUSTRAC as a reporting entity: does it apply to trust & company service providers?
- Maintain a written AML/CTF program: does it apply to trust & company service providers?
- Customer due diligence (KYC) on every customer: does it apply to trust & company service providers?
- Suspicious matter, threshold, and IFTI reporting to AUSTRAC: does it apply to trust & company service providers?
Sources
- Revenue NSW: payroll tax thresholds and rates
- PCBU primary duty of care (NSW WHS Act s 19)
- Notify SafeWork NSW of notifiable WHS incidents
- Pay long service leave under the LSL Act 1955 (NSW)
- Comply with Workplace Surveillance Act 2005 (NSW)
- Enrol with AUSTRAC as a reporting entity
- Customer due diligence (KYC) on every customer
- Suspicious matter, threshold, and IFTI reporting to AUSTRAC
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.