Australia proposes new crypto tax reporting rules

Australia has opened a consultation period for draft legislation aimed at implementing the Organisation for Economic Co-operation and Development (OECD) Crypto-Asset Reporting Framework (CARF). The proposed “Treasury Laws Amendment Bill 2026: Tax Information Reporting” seeks to bring Australian law in line with international standards to facilitate the automatic exchange of digital currency tax information between jurisdictions.

The draft rules would establish domestic reporting requirements for transactions involving Australian residents and update existing frameworks to mitigate tax evasion risks. Australia is among 77 jurisdictions committed to CARF, with its first scheduled data exchanges set for 2028, a year ahead of the United States' planned 2029 timeline. The Treasury is accepting public comments on the draft through October 28.