Australia releases draft bill to adopt OECD crypto tax reporting framework
Quick Look
Australia has released draft legislation to enable automatic exchange of crypto tax information between countries, implementing the OECD's Crypto-Asset Reporting Framework (CARF) and introducing a domestic crypto reporting regime, with international exchanges expected to begin in 2028.
AI-generated summary
Why It Matters
Australia first signaled its intention to implement the OECD's Crypto-Asset Reporting Framework (CARF) in November 2023 and consulted on its proposed approach in late 2024. The government subsequently announced plans to implement both CARF and a domestic crypto reporting regime in its 2025–26 Mid-Year Economic and Fiscal Outlook.
Australia has released draft legislation that would enable the automatic exchange of crypto tax information between countries.
The draft bill, Treasury Laws Amendment Bill 2026: Tax information reporting, is open to comment until Oct. 28. It would establish a framework to implement the Organisation for Economic Co-operation and Development (OECD) Crypto-Asset Reporting Framework (CARF) in Australian law and introduce a domestic crypto reporting regime, according to the Australian Treasury.
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 a domestic crypto reporting regime in its 2025–26 Mid-Year Economic and Fiscal Outlook, with international exchanges of crypto tax information expected to begin in 2028.
The OECD approved CARF in August 2022 to address tax evasion risks arising from the growth of crypto assets.
What to Watch
AI outlook — possibilities, not facts
International exchanges of crypto tax information under the OECD's CARF will begin in 2028
Likely · Within years
Open Questions
- What specific details will be exchanged under the crypto tax information framework?
- Which countries will participate in the automatic exchange of crypto tax information with Australia?
- How will the domestic crypto reporting regime be structured and enforced?
