Australia Moves to Adopt OECD Crypto Tax Reporting Framework

Australia's Treasury has released draft legislation to implement the Organisation for Economic Co-operation and Development's Crypto-Asset Reporting Framework (CARF), positioning the country among 77 jurisdictions committed to automatic cross-border exchanges of crypto tax data. The Treasury Laws Amendment Bill 2026: Tax information reporting is open for public comment until October 28 and would codify CARF into Australian law alongside a new domestic crypto reporting regime.

The move builds on Australia's earlier commitments: the government first signaled its intent to adopt CARF in November 2023, consulted on its proposed approach in late 2024, and announced implementation plans in its 2025–26 Mid-Year Economic and Fiscal Outlook. Under the timeline, international exchanges of crypto tax information with other participating jurisdictions are expected to begin in 2028.

CARF was approved by the OECD in August 2022 to close tax evasion loopholes created by the rapid growth of crypto assets. Once enacted, the framework will require crypto asset service providers operating in Australia—including exchanges, brokers, and digital asset wallet providers—to collect, verify, and report user transaction data to the Australian Taxation Office, which will then be shared automatically with tax authorities in other signatory countries. Australia is concurrently seeking feedback on its broader crypto platform rules ahead of a 2027 rollout.

The domestic reporting regime introduced alongside CARF would extend similar transparency requirements to crypto transactions conducted within Australia, even where no cross-border element is involved. Industry participants and tax professionals have until October 28 to submit feedback on the draft bill before it proceeds to parliamentary consideration.