As of March 31, 2026, Australia's Anti-Money Laundering Act (AML/CTF) has been changed for registered exchanges, and new sanctions on Iran have made it more stringent to investigate Iran-related transactions. As an AUSTRAC-registered exchange, Newsox is required to know where the money came from, what it is being transferred for, and what evidence supports this claim before making any transfer.
Separate two things:
What is reported: The details of the transfer (amount, sender, receiver) and the reason you declare will be reported to AUSTRAC in accordance with the law. The Tax Office (ATO) has access to these reports.
What we have: Your supporting documents are not sent to any institution; according to the law, they are kept in the NeoEx file for seven years.
The reason you give today will be recorded and you may be asked again years later. So give an accurate and factual answer and keep the evidence.
The verification process has three steps, and this guide explains all three in the same order as you see on the NeoEx's form.
Question: Where did the money you send for this remittance come from?
What does it mean: It's just about this amount, not your entire assets. If you're sending $50,000, we're going to find out how that $50,000 got to you.
Why we ask: The law requires us to know the origin of each transfer and to keep its evidence. The answer you choose will be recorded in the report.
How to answer: Choose an option that really describes where the money came from – not one that seems simpler. If the money comes from multiple sources, choose the primary source and show both in the documentation.
| Option in form | What does it mean? | Evidence proving it | common error |
|---|---|---|---|
| Salary / Employment Income - Salary and Income from Work | Money is your salary | recent pay slip, or bank statement showing salary deposit | Cropped screenshot with no employer name or date |
| Business Income - Business Income | Money is the profit or withdrawal of your business | Recent business bank statement, invoice paid, or tax return/BAS | Use a personal account without a trace that connects money to the business |
| Savings from Previous Income | money is from savings that have accumulated over time | bank statement that has been left over for the last few monthsand show the savings trend | last page with remaining, no history |
| Sale of Property - Sale of Property | money from the sale of a property that was in your name | Sales contract + settlement invoice or deposit of sales funds into your account | contract in the name of another person (e.g. father), while the remittance is in your name |
| Inheritance | money is from the inheritance you have received | Certificate of Inheritance Exclusivity or Certified Will + Proof of Transfer of Your Share | Death certificate alone, with no evidence showing your contribution |
| Investments / Sale of Investments - Income or Sales of Investments | money is from profits or the sale of stocks, funds, cryptocurrencies, and the like | A brokerage or cryptocurrency exchange statement showing sales and withdrawals | Screenshot of price or wallet, no rejection of sale and deposit |
| Loan / Borrowed Money - Loan or Borrowed Money | borrowed money from a bank or someone | Bank loan contract, or for personal loan: a signed contract or letter with the amount, date and terms of repayment + deposit of the loan into your account | Select "Gift" for the money to be returned |
| Gift / Family Support - Family Gift or Donation | You have taken the money from the family without a refund obligation | Signed gift letter + proof of the identity of the giver + preferably proof of the origin of the money with the giver (e.g. contract for the sale of his property) | writing "gift" without a letter; or a gift that is actually a loan |
| None of the above is an accurate description | Short written explanation + a document corresponding to that explanation | Select "Other" to avoid selecting the correct option; this option doesn't make the check, it makes it more |
The full name and details of the giver and the recipient of the gift and their proportions
Amount & Date
explicit statement that this amount is a gift and there is no refund
Donor's signature and date of signature - in Australia with the approval of JP (Justice of the Peace), or in Iran in the form of a declaration of donation prepared at a notary
publicAlong with a copy of the donor's identity document
If the gift comes from the sale of the giftee's property (e.g., the fatherhave sold the property), attach proof of that sale. This will answer the question "where did the original money come from" in advance.
These examples are the most common documents, not the full list. Proof that really shows where the money came from, even if it's not on this table, can be provided. If you're not sure, ask us before uploading.
| Source of Money | Sample Documents in Iran | Sample Documents in Australia |
|---|---|---|
| Gift or family help | Gift declaration prepared at the notary public + national gift card | Gift Letter with JP Approval + Proof of Gift Identity |
| Legacy | Inheritance Exclusivity Certificate + Death Certificate + In case of sale of hereditary property, proof of sale | Grant of probate or Letters of administration + proof of transfer of your share |
| Property Sale | Official document of transfer at the office or letter of sale + proof of receipt of payment | Contract of sale + Settlement statement + deposit of funds into your account |
| Conversion or sale of assets (dollars, gold, cars) | Invoice for the purchase or sale of dollars and gold, a promise or document for the sale of a car, a bank statement. | Broker statement, crypto exchange statement, sales invoice, bank statement |
| Salary and Labor Income | Certificate of employment and salary from the employer + bank statement of salary deposit | Payslip + Bank Statement Salary Deposit |
| Business Revenue | Business License + Iran Tax Return + Business Bank Statement | BAS or Company Statement + Invoices Paid + Business Bank Statement |
| Savings | Bank statement of the last few months showing the trend of savings | Bank Statements of the Last Few Months |
| Loan or loan | Bank loan agreement, or for personal loan: signed agreement with the amount, date and terms of repayment | Loan agreement + loan deposit into your account |
| Other | Short written explanation + proof of that explanation | Short written explanation + proof of that explanation |
If the money comes from multiple sources, upload a separate document for each source. The Persian certificate is acceptable for NeoEx; keep the original, as the bank or ATO may ask for an official translation later.
Question: In what way have your overall assets and capital been acquired?
What does it mean: This question is about your overall financial situation, not the money from the remittance. Someone who has been a salaried employee for 10 years and is sending money to sell a property today chooses the source of the money as "selling the property" and the source of the asset as "salary and job income." These two answers can and usually vary.
Why we ask: The law requires us to have a picture of the client's overall situation so that we can judge whether the transfer is consistent with that picture. This question is usually asked once and is not repeated on every transfer, unless your situation has changed.
How to answer: Think about the main way that your assets have been built over the years. For this stage, separate documents are usually not required; if necessary, the same type of documents in the table above (tax returns, multi-year bank statements, title deeds) are sufficient.
| Options in the form | What do you mean? |
|---|---|
| Employment / Salary - Job Salary and Income | Your assets are mainly made up of years of salary. |
| Business / Company Ownership - Business or Company Ownership | Your assets are from the profits or value of the business you own |
| Property - Investment or property ownership | Your asset is mainly in the property or comes from the growth of the property's value |
| Inheritance - Inheritance | The main part of your asset is inheritance |
| Investments - Investments | Your assets are made up of stocks, funds, or other investments |
| Long-term Savings | Your assets are the result of gradual savings over many years |
| Other - Other | None of this is true; give a brief explanation |
Common mistake: Choosing "other" when one of the options is correct. "Other" is not the answer; it just makes the next question asked.
Question: Upload a document that shows where the money for this remittance came from.
What does it mean: The document must prove the same claim you made in step 1. Did you choose "Sale of property"? Sales contract. "Salary"? Pay stub. The Step 1 table shows the correct evidence for each option.
Why we ask: A claim without evidence is not admissible under the law. Your proof will remain with NeoEx and will not be sent to any entity.
A plausible proof has the following characteristics:
Name matches: The name on the document is the same as the name of the sender in the transfer. A document in the name of the father is not sufficient for a transfer in the name of the child on its own; a gift letter or contract is required to connect the two names.
Full page: No screenshot cropped. The name of the issuer (bank, employer, document book), date and amount should be seen.
History makes sense: proof from years ago is not enough for money that has just been calculated. Preferably proof of the last 3 to 6 months.
One proof for each claim: If the money comes from two sources (e.g., savings + gifts), upload a separate document for each. The form accepts up to 20 files.
Correct format: PDF, JPG, JPEG or PNG, up to 20 MB per file. A PDF exported from an internet bank is better than a phone photo.
Common mistake: Uploading an image of a bank card or the front page of the bank app. These show the ownership of the account, not the origin of the money.
Every money that comes from Iran is not necessarily taxed. But whatever option you choose in Step 1 means something different to the ATO. That's why today's cursory answer can be problematic years later.
| Reason for the transfer | Tax Status in Australia (General) | What proof should you keep |
|---|---|---|
| Gifts from the family | Usually, income is not taxable | Gift Letter + Gift Certificate |
| Legacy | There is usually no inheritance tax; the subsequent sale of the inherited asset can be subject to CGT | Proof of Inheritance and Value of Assets on the Date of Death |
| Selling assets in your own name (property, stock) | If a tax residentIf you are in Australia, the profits from the sale of foreign assets can be subject to CGT | Purchase and Sale Contracts, Dates and Values in Australian Dollars |
| Loan | It's not income, but it should have a real payback | Loan Agreement + Rejection of Repayments |
| Income from work or business in Iran | For an Australian tax resident, it is usually taxable, even if you have paid taxes in Iran | Proof of income and taxes paid in Iran |
This table is general and does not replace personal advice. Tax residency status, dates, and currency exchange rates will vary the outcome. Talk to NeoRise or your accountant to check your situation.
The documents you give to NeoEx will remain in our file – but your case must also be complete. The explanation you give today may be asked again by the bank or the ATO a few years later, and it is much harder to gather evidence from that day than it is today.
Keep
them in a folder for each of them:
- Proof of source of money (the one you uploaded),
- Gift letter, loan contract or sales contract, if applicable,
- NeoEx remittance receipt,
- Bank statement showing the inflow or outflow of money.
And a simple rule: the answer you give to the exchange is the same as the answer you give to the bank and to the ATO. A money, a story, a set of documents. Not registering a remittance does not erase the rejection of a bank deposit; it just leaves the question unanswered.
No. The details of the transfer and the reason you have stated will be reported to AUSTRAC in accordance with the law and the ATO has access to it. Your documents will remain with NEWAX and will only be provided upon legal request.
No method guarantees this. The difference is that if they ask, you have an answer and a proof. The money that has entered the account without proof or cash has the same question, but it has no answer.
Select the main source (the largest section) and upload a separate document for each source. Write in the description how much each source is.
A signed gift
letter with a copy of their identity document is usually sufficient. If the money comes from the sale of their property, the contract or sale deed is the strongest document, even if it is in Persian.
For uploading to NeoEx, a Persian document is acceptable. For the bank or ATO, an official translation (NAATI) may be required; keep the original document.
Should
Usually once. If your financial situation changes substantially (e.g. inheritance or sale of the business), you will be asked again.
On the contrary. "Other" means a separate explanation is needed. If one of the options is correct, select the same.
