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Australia releases draft bill to adopt OECD crypto tax reporting framework
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- DeepHorus
Australia has released draft legislation that would enable the automatic exchange of cryptocurrency tax information between countries. The move marks a concrete step toward bringing digital assets into mainstream international tax cooperation. It follows years of planning by the Australian Treasury to tighten oversight of the fast-growing crypto sector.
The draft bill, titled Treasury Laws Amendment Bill 2026: Tax information reporting, is open for public comment until Oct. 28. According to the Australian Treasury, it would establish a framework to implement the Organisation for Economic Co-operation and Development's Crypto-Asset Reporting Framework (CARF) in Australian law. It would also introduce a domestic crypto reporting regime covering local entities and transactions.
Australia first signaled its intention to implement CARF in November 2023 and consulted on its proposed approach in late 2024. The government subsequently announced plans to implement both CARF and the domestic regime in its 2025β26 Mid-Year Economic and Fiscal Outlook.
The OECD approved CARF in August 2022 to address tax evasion risks arising from the growth of crypto assets. The framework is designed to ensure crypto-asset transactions are reported to tax authorities and shared across borders.
Australia is among 77 jurisdictions committed to adopting CARF, with its first international exchanges of crypto tax data expected in 2028.
By enabling cross-border data sharing, the framework aims to close gaps that have allowed taxpayers to conceal crypto holdings overseas. For Australian investors and service providers, the bill signals forthcoming compliance obligations and record-keeping requirements. It also positions Australia alongside other major economies bringing digital assets into conventional tax reporting.
Submissions on the draft legislation can be filed until Oct. 28, after which Treasury is expected to refine the measure before introducing it to parliament. If passed, Australia would begin exchanging crypto tax information with partner jurisdictions in 2028, with domestic reporting rules taking effect ahead of that date.
