Australia releases draft bill to adopt OECD crypto tax reporting framework

Australia has released a draft bill aimed at adopting the Organisation for Economic Co-operation and Development’s Crypto-Asset Reporting Framework, or CARF. The move would place Australia among jurisdictions working to establish a common approach for tax-related reporting on crypto assets and cross-border information sharing.

CARF is an OECD framework intended to help tax authorities obtain and exchange information relevant to crypto-asset transactions. Its adoption is significant because crypto assets can be held and traded across national borders, creating reporting and compliance challenges for tax agencies using country-specific systems.

Australia is among 77 jurisdictions that have committed to adopting CARF. The country’s first international exchanges of crypto tax data under the framework are expected in 2028, marking a future step toward coordinated reporting between participating tax authorities.

The draft bill begins the domestic legislative process for Australia’s implementation of the OECD framework. The proposal reflects the broader international push to bring crypto-asset reporting closer to existing standards used for other cross-border financial information.