Australia drafts bill to adopt OECD crypto tax reporting rules

Australia has released a draft bill to adopt the OECD’s Crypto-Asset Reporting Framework, or CARF, which sets a common approach for tax authorities to collect and share information about crypto transactions. Australia’s first international exchanges of this data are expected in 2028.

The proposal places Australia among 77 jurisdictions committed to adopting CARF. The draft is a step toward implementation; the available announcement does not specify the final rules, reporting thresholds or which crypto services would be covered.

What would Australia’s CARF rules do?

CARF is designed to help tax authorities exchange information about crypto assets across borders. In practical terms, the framework is intended to make it harder for crypto-related income or holdings to remain outside tax authorities’ view simply because activity crosses national boundaries.

The 2028 date refers to the expected start of international data exchanges, not necessarily the date all Australian reporting obligations begin. The draft bill’s publication does not, by itself, establish the detailed duties that exchanges, brokers or users may face.

What should Australian crypto users watch for?

For individuals, the immediate point is that Australia is moving toward international tax-data sharing, but the draft alone does not explain what information a person may need to report or how service providers will collect it. Those specifics depend on the legislation and implementing rules.

The 77-jurisdiction commitment also puts Australia’s move in a wider context: crypto tax transparency is increasingly being coordinated across borders, much as financial reporting rules are. For readers, the useful distinction is between that policy direction and a tax bill becoming operative—the next concrete details will be in the draft’s legislative process and any final guidance.