Australia has released the Treasury Laws Amendment Bill 2026: Tax information reporting, a draft legislation designed to implement the Organisation for Economic Co-operation and Development (OECD) Crypto-Asset Reporting Framework (CARF) into domestic law. The bill establishes a framework for the automatic exchange of crypto tax information between countries and introduces a mandatory domestic reporting regime for crypto assets. According to the Australian Treasury, the draft is open for public comment until October 28.
This legislative move follows Australia’s initial signal in November 2023 to adopt CARF and subsequent consultations on its proposed approach in late 2024. By aligning with the OECD standard, Australia seeks to enhance transparency in cryptocurrency transactions and ensure that tax authorities can effectively monitor cross-border digital asset holdings.
The release of this draft bill marks a concrete step toward integrating cryptocurrency into Australia’s existing international tax compliance architecture. By adopting the OECD’s CARF, the government aims to close information gaps that have historically allowed crypto assets to evade traditional financial reporting standards. This alignment ensures that Australian tax authorities will receive standardized data from foreign jurisdictions, facilitating more accurate assessment of capital gains and income derived from digital assets.
For market participants, the primary implication is an increased operational burden on exchanges and custodians, which must now prepare for rigorous data collection and reporting requirements. While the consultation period allows for industry feedback, the trajectory suggests that non-compliance risks are rising as regulatory frameworks mature globally. Investors should anticipate greater scrutiny of their crypto holdings, particularly those involving cross-border transactions, as the mechanism for automatic information exchange becomes fully operational.
