Australia has released draft legislation to introduce the OECD’s Crypto-Asset Reporting Framework into domestic law, with public consultation running until October 28, 2026. The proposal would require domestic crypto transaction reporting and support annual international exchanges of taxpayer information between participating countries. Australia’s first cross-border exchanges of crypto tax information under the framework are currently planned for 2028.
The Australian Treasury confirmed on October 15 that the exposure draft would bring the Organisation for Economic Co-operation and Development’s Crypto-Asset Reporting Framework into Australian law. The changes cover reporting on crypto transactions involving Australian residents and updates to existing financial account reporting standards. The proposal follows commitments made in the 2025–26 Mid-Year Economic and Fiscal Outlook and is part of the government’s tax transparency program.
Under the OECD’s CARF standard, covered crypto service providers must collect identifying details about qualifying users and transactions. The framework covers exchanges between crypto assets and traditional currencies, exchanges between different crypto assets, and certain transfers involving crypto assets. Reporting intermediaries such as exchanges and other businesses facilitating covered transactions would be required to submit information to the Australian Taxation Office through domestic reporting obligations.
The consultation does not introduce a new tax rate on Bitcoin, Ethereum or other cryptocurrencies. Its stated purpose is to establish reporting arrangements and improve access to information used in administering existing tax laws. The OECD says 77 jurisdictions have committed to implementing CARF by 2029, with first exchanges scheduled for 2027, 2028 or 2029 depending on the jurisdiction. Participating countries include Australia, the United Kingdom, Japan and the United States.
Australia began preparing crypto tax changes in 2023, when the government joined other jurisdictions in committing to the OECD-developed framework. A further consultation was held from November 2024 to January 2025. Alongside the tax reporting proposal, the Australian Securities and Investments Commission has separately opened consultation on new cryptocurrency exchange and custody requirements, with feedback due November 27.
Treasury has made the exposure draft and explanatory material available in PDF and Word formats, and is accepting written submissions through its consultation portal. The legislation remains a proposal and has not yet become law. Treasury will consider feedback before the government decides whether to make changes and introduce the legislation into Parliament.
