Australia Consults on Draft Crypto Tax Rules Ahead of 2028 Data Exchange

Australia is consulting on draft crypto tax reporting rules before its scheduled 2028 international data exchange, a year ahead of the United States, as other governments pursue different digital asset policies. Australia’s Treasury opened the consultation Oct. 15 and will accept comments through Oct. 28. The draft would bring the Organisation for Economic Co-operation and Development’s (OECD) Crypto-Asset Reporting Framework (CARF) into Australian law, add domestic reporting for transactions involving Australian residents and update existing reporting rules. CARF provides a structure for tax authorities to share information on crypto-asset transactions across borders. As of Sept. 14, 77 jurisdictions had committed to implementation, with their first exchanges scheduled from 2027 through 2029. Australia’s first exchanges are scheduled for 2028; the United States’ are scheduled for 2029.

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