Australia: a draft bill to exchange crypto tax data

On 15 October 2026, the Australian Treasury published an exposure draft bill that would introduce into domestic law the OECD framework on crypto-asset reporting, known as CARF. The text provides for the reporting of crypto transactions by Australian residents and also amends the existing rules on the exchange of information relating to financial accounts.

The crypto service providers concerned, including exchange platforms in particular, would have to identify their customers and report certain transfers and exchanges. According to the source, their precise obligations will depend on the text finally adopted by Parliament and on the requirements set by the tax authority.

For Australian residents, the domestic regime would give the tax authority, the ATO, an additional source of transaction records. The Treasury states that the consultation does not announce any new tax on bitcoin, ether or other cryptocurrencies: the stated aim is to organise reporting and improve access to information in order to apply the tax rules already in force.

Under the OECD framework, a provider established in a participating jurisdiction may report data that will be transmitted each year to the user's country of tax residence. For a person who holds crypto-assets with a provider abroad, these holdings therefore become visible to their tax authority.

Written submissions are received until 28 October 2026 through the Treasury's consultation portal. The draft is not yet law: the Treasury will review the feedback, then the government will decide on any amendments before introducing the bill in Parliament. The first international exchanges are currently scheduled for 2028.

In September 2026, the OECD stated that 77 jurisdictions had committed to implementing the CARF, with first exchanges in 2027, 2028 or 2029 depending on the country. The source cites Australia, the United Kingdom, Japan and the United States among them.

The source does not detail any potential penalties, reporting thresholds, or the countries with which Australia would exchange first. Nor does it say which platforms would be affected in practice. These points will depend on the final version of the text.