Australia Moves to Adopt OECD Crypto Tax Reporting Framework with Draft Bill

Australia's Treasury has released draft legislation aimed at implementing the Organisation for Economic Co-operation and Development's Crypto-Asset Reporting Framework (CARF), marking a significant step toward automatic international exchange of cryptocurrency tax data. The Treasury Laws Amendment Bill 2026: Tax information reporting is open for public comment until Oct. 28 and seeks to embed CARF into Australian law while also introducing a parallel domestic crypto reporting regime.

Australia first signaled its intent to adopt CARF in November 2023 and followed up with a public consultation in late 2024. The government confirmed its implementation timeline in the 2025–26 Mid-Year Economic and Fiscal Outlook, with international exchanges of crypto tax information scheduled to begin in 2028. The country is among 77 jurisdictions that have committed to rolling out CARF, which the OECD approved in August 2022 to combat tax evasion risks tied to the rapid growth of digital assets.

The framework will require crypto asset service providers operating in Australia to collect and report user transaction data, enabling tax authorities to share information across borders. Once enacted, the regime is expected to align Australia with global peers preparing similar crypto transparency measures ahead of the 2028 exchange deadline, while giving the Australian Taxation Office new domestic visibility into crypto activity on local platforms.

Industry participants and legal experts are expected to weigh in during the comment period on issues including reporting thresholds, data privacy safeguards, and compliance costs for exchanges and wallet providers. The draft bill reflects a broader international push to close perceived loopholes in crypto taxation as digital assets become an increasingly mainstream component of retail and institutional investment portfolios.