Australia’s Treasury has released draft rules that would require certain crypto service providers to report user and transaction information to tax authorities. International data exchanges are targeted for 2028. The proposal is not yet law, and key details, including which providers and transactions would be covered, remain unclear.
- Draft legislation would implement the OECD’s Crypto-Asset Reporting Framework (CARF).
- It also proposes a separate Australian crypto-asset reporting regime, but its operation has not been detailed.
- Feedback is due October 28, though the year is not specified.
- Cross-border information sharing is expected to begin in 2028.
What Australia is proposing
The draft, titled Treasury Laws Amendment Bill 2026: Tax Information Reporting, would bring the OECD’s Crypto-Asset Reporting Framework into Australian law. Treasury has released it for public feedback. It has not been passed, and the proposed rules are not in force.
Under CARF, crypto service providers covered by the final rules would collect information about users and transactions, then report it to tax authorities. Australian authorities could share relevant information with tax authorities in participating countries. That does not mean every crypto transaction or service would automatically be covered. The available details do not specify which providers, assets or data fields would fall within the rules.
The bill also proposes a separate domestic reporting regime for crypto assets. Treasury has not clarified how it would differ from CARF or what information it would require.
How the proposal got here
Australia signalled its intention to adopt CARF in November 2023, then consulted on the framework’s design in late 2024. Treasury has now published draft legislation and is seeking feedback.
The stated deadline is October 28, but the year is not specified in the available information. That leaves the date open to question. Readers should check Treasury’s consultation notice for the applicable deadline. Cross-border exchanges are expected to start in 2028. That is a separate milestone from the current consultation and the finalisation of domestic rules.
What the rules could mean
Crypto activity can involve services and counterparties in several countries. A common reporting framework is meant to help tax authorities obtain and exchange tax-related information across borders. For users, the proposal could make it harder to assume that activity on a covered service is invisible to tax authorities.
Reporting does not establish that someone owes tax or has broken the law. The information would give authorities material to assess, but it would not, on its own, prove a tax breach.
The privacy and compliance effects will depend on the final design. More reporting could mean more sensitive financial information is collected and transmitted. The consultation should clarify what data firms must provide, which firms have to report and what safeguards will apply. The details available so far do not answer those questions or explain how the separate Australian regime would work.
Key questions and answers
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What is Australia proposing?
To implement the OECD’s CARF framework and create a separate domestic crypto-asset reporting regime. The draft is open for feedback and is not yet law.
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How would information be shared?
Covered providers would report user and transaction information to tax authorities. Those authorities could then exchange relevant data with participating countries.
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When is feedback due?
The stated date is October 28, but the year is not specified in the available information. Check Treasury’s consultation notice before relying on the deadline.
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When could international exchanges begin?
Cross-border sharing of crypto tax information is expected to start in 2028.
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Which providers and transactions would be covered?
The available details do not specify the covered providers, assets or information fields. The scope will depend on the final rules.
