Australia is moving to formalise a legal structure that will allow it to share cryptocurrency tax data with other jurisdictions under the OECD’s standards. The government has released a draft bill and invited public feedback until late October.

Draft legislation and consultation timeline

The Treasury Laws Amendment Bill 2026: Tax information reporting sets out a two-track approach. First, it would embed the Organisation for Economic Co-operation and Development’s Crypto-Asset Reporting Framework (CARF) into Australian law. Second, it creates a home-grown crypto reporting system for domestic entities. The consultation window runs until 28 October, after which the Treasury will consider amendments before the bill proceeds through parliament.

Background and implementation roadmap

Australia first indicated its intention to adopt CARF in November 2023 and ran a consultation on its preferred method in late 2024. The plan was later incorporated into the 2025-26 Mid-Year Economic and Fiscal Outlook, signalling that both the international framework and the domestic regime could be operational by the next fiscal year. The OECD approved CARF in August 2022 to curb tax evasion linked to the rise of digital assets, and Australia’s draft aims to align with that global effort.

Expected impact on crypto participants

Once enacted, Australian exchanges, wallet providers and other crypto-related businesses would be required to collect and transmit detailed transaction data to the Australian Tax Office, which would then share relevant information with overseas tax authorities under the OECD’s automatic exchange protocol. The legislation also foresees the start of cross-border data sharing in 2028, giving firms a multi-year horizon to adjust compliance processes.

International context

CARF represents the first coordinated global standard for crypto tax reporting, and Australia would join a growing list of jurisdictions that have committed to the framework. Adoption could enhance the effectiveness of anti-avoidance measures and provide a more level playing field for compliant operators.

Why it matters

Embedding the OECD’s crypto-asset reporting rules into Australian law signals a shift toward greater transparency in the digital-asset sector. The move not only aligns Australia with international tax-compliance norms but also sets expectations for domestic businesses to upgrade reporting capabilities. As global regulators tighten scrutiny, the draft bill could become a benchmark for other economies seeking to balance innovation with fiscal responsibility.