Australia drafts global crypto tax reporting bill

TLDR

Australia has released a draft law to plug crypto into a global tax reporting system, with cross-border data sharing targeted from 2028.

1. The Treasury Laws Amendment Bill 2026 would implement the OECD Crypto Asset Reporting Framework and a domestic crypto tax reporting regime.
2. Regulated crypto platforms would have to collect and report detailed customer and transaction data, tightening compliance and raising privacy and data handling questions.
3. Consultation runs until 28 Oct 2026, with exchanges of tax data planned from 2028, giving platforms and users time to adapt.

Deep Dive

1. New Global Reporting Framework

Australias draft Treasury Laws Amendment Bill 2026: Tax information reporting would write the OECD Crypto Asset Reporting Framework (CARF) into national law and add a local reporting system for crypto activity.

CARF is a standard designed to let tax authorities automatically share information on crypto transactions between jurisdictions to tackle tax evasion. Australia is one of 77 jurisdictions committed to adopting CARF, with first exchanges of crypto tax data expected in 2028 according to the Australian Treasury and CARF coverage reported by Cointelegraph.

The bill is open for public comment until 28 Oct 2026, so technical details and scope can still be refined before Parliament votes.

2. What Changes For Platforms And Users

Under CARF style rules, affected businesses like exchanges, brokers and certain custodial wallet providers must collect verified customer information and report relevant crypto transactions to tax authorities, including cross border trades and transfers.

Other CARF implementations, such as the United Kingdoms, already require exchanges to record full name, date of birth, home address and tax identification numbers for users, then match this to on chain activity before sharing data with partner tax agencies. Australias model is expected to follow similar patterns, adapted to local law.

For users, this does not change how crypto is taxed in detail yet, but it makes underreporting harder and ties exchange based activity much more closely to real world identity.

3. Timeline And Interaction With Other Rules

Consultation on the tax reporting bill runs to late October 2026, after which the government can adjust and move toward formal legislation. International data exchange is targeted for 2028, giving several years of lead time for infrastructure and compliance.

This sits alongside Australias separate licensing and conduct regime for digital asset platforms, scheduled to start 8 Apr 2027, which will require exchanges and custodians to hold licenses, meet capital and custody standards, and report wallet structures, as outlined in ASICs CP 392 and related coverage by Coindesk.

Together, licensing plus tax reporting moves Australia toward a more traditional finance style regulatory environment for crypto over 2027 to 2028.

Conclusion

Australias draft bill signals that crypto tax transparency is moving from optional to mandatory in major jurisdictions, with CARF as the spine for global data sharing.

For crypto users and platforms, the key shift is not an immediate new tax rate, but the increased ability of tax authorities to see and match cross border crypto activity to individuals, especially on regulated exchanges. Monitoring the final bill text, ASICs platform rules, and how other CARF countries implement similar measures will be important for understanding future compliance and privacy tradeoffs.