Australia published draft legislation to implement the international Crypto-Asset Reporting Framework (CARF), which provides for the automatic exchange of information between tax authorities in different countries.
The Australian Treasury released draft legislation aimed at incorporating the Crypto-Asset Reporting Framework (CARF), developed by the Organisation for Economic Co-operation and Development (OECD), into national law. The proposal also provides for the creation of a domestic tax reporting system for cryptoasset transactions. Public consultations on the draft legislation will remain open until October 28, 2026.
Australia is among 77 jurisdictions that committed to implementing CARF, which was approved by the OECD in 2023. Under the government’s plans, the first international exchange of tax information on cryptocurrency transactions is scheduled for 2028.
The legislative proposal provides for 2 interconnected tax compliance mechanisms:
International CARF reporting. Automatic exchange of cryptoasset transaction data between tax authorities in participating jurisdictions.
Domestic reporting system. Collection of information on cryptocurrency transactions within Australia in accordance with local legal requirements.
Preparations to implement the framework have been underway for nearly 3 years. In November 2023, Australia first formally announced its intention to join CARF. In late 2024, the government held consultations on a potential implementation model. It subsequently confirmed plans to introduce the international framework and a domestic reporting regime in its 2025–2026 Mid-Year Economic and Fiscal Outlook.
Starting January 1, 2026, cryptocurrency service providers in 48 countries and jurisdictions began collecting cryptocurrency transaction data, with another 27 jurisdictions expected to join the system by 2028.
