Australia’s proposed adoption of the OECD’s Crypto-Asset Reporting Framework could make it easier for tax authorities to identify covered crypto activity across borders. The country’s [first international information exchanges are planned for 2028](https://crypto.news/?p=14486560). The draft is not yet law, and it would not create a new tax rate on Bitcoin, Ethereum or other cryptocurrencies.
- Consultation closes October 28, 2026.
- Covered providers would report specified user and transaction information to the ATO.
- Australia plans its first international exchanges under the framework for 2028.
- The proposal supports the administration of existing tax laws.
How the proposed reporting system would work
On October 15, 2026, the Australian Treasury published draft legislation to bring the OECD’s Crypto-Asset Reporting Framework (CARF) into Australian law and amend the existing Common Reporting Standard (CRS). The CRS governs the exchange of certain financial-account information between tax authorities.
The proposal has two stages. First, covered crypto service providers would collect information about reportable users and covered transactions, then report it under domestic rules so it can be accessed by the Australian Taxation Office (ATO). Participating jurisdictions could then exchange relevant information annually with the jurisdictions where those users are tax residents, subject to applicable agreements and legal requirements.
CARF covers exchanges between crypto-assets and traditional currencies, exchanges between crypto-assets, and certain transfers. The information would include identifying details about reportable users and transaction data. The rules apply to covered providers, users and activities. They do not mean every crypto transaction or wallet would automatically be reported. The final scope and obligations will depend on the legislation and rules ultimately adopted.
The framework addresses a practical challenge for tax authorities: crypto activity can involve service providers based in other countries, making relevant information harder to obtain through domestic reporting alone. CARF calls on participating jurisdictions to establish domestic reporting laws, enable international exchanges and use a common electronic format.
A draft, not a new crypto tax
The Treasury proposal is an exposure draft, meaning proposed legislation published for public feedback. It is not currently in force. Treasury will consider submissions before the government decides whether to amend the draft and introduce legislation to Parliament. No timetable for that decision has been announced.
The proposal concerns reporting and tax administration. It does not set a new tax rate for Bitcoin, Ethereum or other crypto-assets, and it does not itself change Australia’s existing tax laws.
Written submissions are open through Treasury’s consultation portal until October 28, 2026. Questions about the proposal can be directed to Treasury’s MNE Tax Transparency team at [email protected].
Why Australia’s first exchanges are planned for 2028
Australia committed to CARF in November 2023. A joint statement from participating governments called for the framework’s “widespread, consistent and timely implementation.” The original group aimed to begin international exchanges in 2027, subject to each jurisdiction’s legislative procedures.
Australia consulted on implementing CARF and amending the CRS in November 2024. That consultation closed in January 2025. The current proposal plans for Australia’s first international exchanges in 2028. The schedule depends on the legislation and exchange arrangements being put in place.
Australia is among a growing group of jurisdictions pursuing the framework. The OECD reported in September 2026 that 77 jurisdictions had committed to implementing CARF, with initial exchanges scheduled for 2027, 2028 or 2029, depending on the jurisdiction. The OECD developed CARF with G20 countries and has published technical reporting specifications and guidance on the data-exchange format. Argentina’s adoption of the CARF regime is another example of jurisdictions pursuing the framework.
Data protection remains part of the equation
Cross-border reporting can help tax authorities enforce existing rules, but it also involves sensitive financial and identifying information. The OECD’s Global Forum on Transparency and Exchange of Information for Tax Purposes assesses jurisdictions’ confidentiality and data-protection safeguards.
Those assessments do not, by themselves, show how every safeguard would work in practice under Australia’s proposed system. The final laws and implementation arrangements will need to explain how reported information is protected and exchanged.
Key questions and answers
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Is Australia’s crypto reporting proposal already law?
No. It is a draft, and the government has not decided whether to amend it and introduce legislation to Parliament.
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When would Australia begin sharing crypto tax information internationally?
Australia plans its first exchanges under CARF for 2028, subject to the legislation and applicable exchange arrangements.
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Does CARF create a new tax on crypto?
No. The proposal establishes reporting arrangements to help administer existing tax laws. It does not set new crypto tax rates.
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What crypto activity could be reported?
The framework covers crypto-to-fiat and crypto-to-crypto exchanges, as well as certain transfers. Reporting would apply to covered providers, users and transactions. The final rules will determine the precise obligations.
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When does consultation close?
Written submissions to Treasury are open until October 28, 2026.
