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Australia releases draft bill to adopt OECD crypto tax reporting framework
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Australia has released draft legislation to adopt the OECD's Crypto-Asset Reporting Framework (CARF). The Treasury Laws Amendment Bill 2026: Tax information reporting is open for comment until Oct. 28. It would enable automatic exchange of crypto tax information between countries. Australia is among 77 jurisdictions committed to CARF.
Australia first signaled its intention to implement CARF in November 2023. It consulted on its proposed approach in late 2024. The government then announced plans for CARF and a domestic reporting regime in its 2025–26 Mid-Year Economic and Fiscal Outlook. International exchanges of crypto tax information are expected to begin in 2028.
The OECD approved CARF in August 2022. It aims to address tax evasion risks from growing crypto assets. The framework gives tax authorities better visibility into crypto transactions. Australia's participation aligns it with a global reporting standard.
The draft bill would implement CARF in Australian law. It would also create a domestic crypto reporting regime. The framework would establish reporting obligations for crypto intermediaries. Comments are due by Oct. 28.
The proposal matters because crypto can be used to evade tax. Many jurisdictions lack comprehensive reporting for crypto assets. Automatic exchange would help authorities match taxpayer data across borders. A domestic regime would increase transparency within Australia.
The Treasury is seeking stakeholder feedback before finalizing the legislation. Related work is underway, with Australia seeking feedback on crypto platform rules ahead of a 2027 rollout. The government has not yet detailed all compliance costs for industry. The draft remains open for public comment.
If enacted, the bill would position Australia alongside other CARF adopters. The first international exchanges are expected in 2028. The consultation period ends Oct. 28. Further revisions are possible after consultation.
