Australia has released draft legislation to implement the OECD's Crypto-Asset Reporting Framework (CARF). The bill, open for comment until Oct. 28, aims to establish a domestic regime for crypto tax information exchange, with international data sharing expected to begin in 2028.
The legislation signifies Australia's move to enhance transparency and combat tax evasion in the digital asset space, aligning with global efforts to regulate crypto assets. This framework will impact how crypto transactions are reported for tax purposes within Australia and internationally.
Australia has introduced draft legislation to align with the Organisation for Economic Co-operation and Development's (OECD) Crypto-Asset Reporting Framework (CARF). The Treasury Laws Amendment Bill 2026: Tax information reporting, released for public comment until October 28, aims to establish a domestic system for exchanging crypto tax information internationally. Australia, one of 77 jurisdictions committed to CARF, first indicated its intent to adopt the framework in November 2023. The government confirmed plans for CARF implementation and a domestic regime in its 2025-26 Mid-Year Economic and Fiscal Outlook, with international data exchanges slated to begin in 2028. The OECD developed CARF in August 2022 to combat tax evasion risks associated with digital assets.
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