# Australia opens consultation on crypto tax reporting draft Author: KriptoMeta Editorial Team Language: English Published: 2026-10-16T07:34:38+03:00 Updated: 2026-10-16T07:34:38+03:00 ![Fictional finance worker scanning transaction records beside a Bitcoin folder in an office with an Australian flag](https://kriptometa.com/uploads/avustralya-kripto-vergi-raporlama-taslagini-goruse-acti-ccb1779e7bdd_article.webp) ## Key takeaways - The consultation opened on October 15 and closes October 28; the draft has not become law. - CARF data collection is planned for 2027, with the first international information exchanges in 2028. - The domestic regime would cover Australian tax residents’ swaps and transfers involving external wallets. Treasury is proposing rules for both international crypto tax information sharing and reports on Australian users’ transactions. The domestic regime would cover custody and transfer services as well as exchanges. Australia’s Treasury has [opened consultation on draft legislation](https://consult.treasury.gov.au/c2026-813391) to expand the reporting of crypto-asset transactions to tax authorities. The consultation runs from October 15 to October 28, 2026. The package would implement the OECD’s Crypto-Asset Reporting Framework (CARF), create a separate domestic regime for Australian tax residents and update the Common Reporting Standard (CRS). The proposal follows a commitment in the government’s 2025–26 Mid-Year Economic and Fiscal Outlook. According to the [draft explanatory material](https://storage.googleapis.com/files-au-treasury/treasury/p/prj3fc33897695d43bf731d0/page/fil3fc49a2fe901e8722181a_c2026_813391_em.pdf), providers covered by CARF would collect information for the 2027 calendar year. The first reports to the Australian Taxation Office (ATO), and the first exchanges with foreign tax authorities, are planned for 2028. ## Which transactions would domestic reports cover? The proposed domestic regime would apply to businesses providing registrable virtual asset services under Australia’s [anti-money-laundering](https://kriptometa.com/en/glossary/kyc-aml) and counter-terrorism-financing legislation. That definition includes crypto-to-cash and crypto-to-crypto exchange services, custody, transfers on behalf of customers and certain financial services connected with token offerings. Providers would report exchanges and transfers conducted for users who are Australian tax residents at any point during the relevant reporting period. The explanatory material includes transfers between providers and users, as well as movements to or from a user’s [external wallet](https://kriptometa.com/en/glossary/crypto-wallet). Its definition of virtual assets covers digital currencies and [NFTs](https://kriptometa.com/en/glossary/nft). The intended reports would contain identifying information about users, the asset’s name, the transaction’s date and time, its value in Australian dollars and its transaction ID. Treasury says existing privacy safeguards and the ATO’s tax secrecy provisions would apply to the information collected. The draft sets out which providers would send [transaction records](https://kriptometa.com/en/organize-crypto-transaction-records) to the tax authority. Reporting a transfer does not, by itself, make that transfer a taxable event. ## A July 2027 start and further implementing rules The [draft provisions](https://storage.googleapis.com/files-au-treasury/treasury/p/prj3fc33897695d43bf731d0/page/fil3fc4348d8b5d68289257f_c2026_813391_ed.pdf) would apply the domestic regime to transactions in financial years beginning on or after July 1, 2027. The ATO could specify a different reporting period. Treasury intends to use quarterly periods, but a separate instrument would be needed; without one, the default period would be the financial year. For CARF, the draft establishes powers to prescribe international information-sharing frameworks through regulations. Ministerial rules would then specify reporting entities, the information to be supplied and checks on customers’ identities and tax residence. The CRS amendments would extend coverage to certain electronic-money products, central bank digital currencies and some financial products offering indirect exposure to crypto assets. Treasury says the changes are intended to prevent gaps in tax information reporting between bank accounts and digital products that perform similar economic functions. The ATO already collects data from some crypto service providers through a data-matching program. Treasury says the information varies between providers and does not include transactions or holdings with foreign platforms.