Australia unveils global crypto tax sharing bill

TLDR

Australia has published draft legislation to join a global system for automatically sharing crypto tax data with other countries.

1. Australias Treasury has proposed the 2026 Tax Information Reporting bill to implement the OECD Crypto-Asset Reporting Framework (CARF) and a domestic crypto reporting regime.
2. The bill would make exchanges and other service providers report detailed user and transaction data, boosting tax enforcement but not directly changing crypto tax rates.
3. International crypto tax data sharing is targeted to start in 2028, and more countries are expected to follow, increasing global scrutiny of cross-border crypto activity.

Deep Dive

1. What Australia Proposed

Australias Treasury released the Treasury Laws Amendment Bill 2026: Tax information reporting, a draft law that would embed the OECDs Crypto-Asset Reporting Framework (CARF) into Australian legislation and create domestic reporting rules for crypto assets. The proposal is out for public comment until 28 October and has not yet become law. If adopted, it would let Australia automatically exchange crypto tax information annually with other CARF-participating jurisdictions, with first exchanges planned around 2028, according to recent government and media summaries.

2. Impact On Exchanges And Users

Under CARF, covered crypto service providers such as exchanges and certain platforms would need to collect user identification data and report qualifying transactions, including crypto to fiat, crypto to crypto, and some transfers. The aim is to give the Australian Taxation Office and foreign tax authorities a clearer view of residents crypto holdings and activity to combat cross-border tax evasion, not to set new tax rates. Practically, this means more stringent KYC and reporting obligations, and less scope to rely on offshore platforms to hide activity from home tax authorities.

3. What To Watch Next

The draft bill can still change after consultation, and it must be introduced and passed by Parliament before taking effect. Globally, 77 jurisdictions have committed to implementing CARF, with first data exchanges penciled in between 2027 and 2029, so Australia is part of a broader international trend. In parallel, Australias securities regulator is building a licensing and capital framework for digital asset platforms, which will shape how local and foreign exchanges serve Australian users. Key signals to watch are any tightening of the draft rules, confirmed start dates, and how other crypto hubs implement their own CARF obligations.

Conclusion

Australias move is a clear step toward treating crypto like other financial assets for tax transparency, using shared international reporting rather than new tax rates. For crypto users, the direction of travel is toward more documentation, less anonymity in cross-border flows, and higher compliance expectations, especially once CARF exchanges begin around 2028.