Australia has opened public consultation on draft cryptocurrency tax reporting laws that would give the Australian Taxation Office more information about transactions involving residents. The proposal combines domestic reporting requirements with the OECD’s Crypto-Asset Reporting Framework (CARF), which supports cross-border tax information exchanges.
Treasury will accept feedback until October 28, 2026, before the government decides whether to revise the draft and introduce it into Parliament. The measures have not become law, and they do not introduce a new cryptocurrency tax rate.
Under the draft, crypto service providers would report qualifying transactions involving Australian residents through domestic arrangements. The ATO could then use those records to administer existing tax laws.
The proposal also aligns Australian reporting with CARF. That international standard requires covered providers to identify reportable customers and gather data on certain crypto transactions. National laws determine how providers submit those records to tax authorities.
CARF covers exchanges between cryptocurrencies and traditional currencies, trades between different crypto assets, and certain asset transfers. Reporting data includes customer identifiers and details of covered transactions.
The planned rules target intermediaries that facilitate crypto services, including exchanges. Their final obligations will depend on legislation Parliament adopts and the reporting procedures authorities establish. The proposal would allow the ATO to obtain information, while CARF could provide relevant data from other participating jurisdictions.
The OECD developed CARF with G20 countries to address gaps in tax authorities’ access to offshore cryptocurrency records. Participating jurisdictions must establish reporting laws and international exchange arrangements.
Once countries put those measures in place, tax authorities can share covered information annually with jurisdictions where users reside for tax purposes. Agreed electronic formats support the transfer of those records.
In September 2026, the OECD said 77 jurisdictions had committed to implementing CARF. The first exchanges will begin in 2027, 2028, or 2029, depending on each jurisdiction’s timetable.
Australia, the United Kingdom, Japan, and the United States are among the participating jurisdictions. The OECD’s Global Forum oversees implementation and reviews confidentiality and data protection safeguards.
Australia joined the international commitment in November 2023. Governments involved in that statement called for consistent implementation and planned to begin exchanges in 2027, subject to domestic legislation.
Treasury then consulted on CARF and updates to the Common Reporting Standard in November 2024. That consultation closed in January 2025. Australia now plans its first international CARF exchanges in 2028.
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The latest consultation seeks responses to draft legislation and explanatory material. Treasury has published both documents in PDF and Word formats and directs submissions through its consultation portal.
The draft would also amend the Common Reporting Standard, which governs automatic exchanges of certain financial account details. These changes address developments in financial products and reporting practices.
Separately, the OECD issued CARF technical formats in October 2024 and updated exchange guidance in July 2025. Those documents explain how participating tax authorities can prepare and transmit information electronically.
Australia is also developing distinct financial services rules for digital asset exchanges and custody businesses. The Australian Securities and Investments Commission has sought feedback on licensing standards covering financial resources, customer assets, and trading practices.
That consultation runs until November 27. It follows a separate regulatory schedule and does not determine when the crypto tax reporting bill becomes law.
For the Treasury proposal, interested parties must lodge submissions by October 28, 2026. Treasury identifies its MNE Tax Transparency team as the contact for questions about the draft.
Australia's proposed crypto tax reporting rules would expand domestic transaction reporting and align the country with international data-sharing standards. The government plans its first CARF exchanges in 2028, although the legislation remains under consultation. Businesses and other interested parties can submit feedback before October 28, 2026.