Australia’s Treasury has opened consultation on draft legislation that could change how crypto platforms report customer transactions to the Australian Taxation Office (ATO). The proposal is not yet law. If passed, it would introduce new reporting obligations for crypto service providers and expand international tax information exchange.
The consultation concerns the Treasury Laws Amendment Bill 2026: Tax Information Reporting, released on 15 October 2026. Submissions close on 28 October 2026. If you operate a crypto platform, trade digital assets, or manage financial records for a business with crypto activity, now is a good time to understand what the draft proposes and organise your records.
The proposal would bring OECD crypto reporting rules into Australian law
The bill would implement the OECD’s Crypto-Asset Reporting Framework (CARF) in Australia. CARF is intended to help tax authorities exchange information about relevant crypto transactions across borders. The proposal delivers a measure announced in the 2025–26 Mid-Year Economic and Fiscal Outlook.
Treasury’s consultation page confirms the draft legislation is open for comment. The details below reflect the draft as reported by Crypto News Australia. The reporting rules remain proposals until legislation is enacted.
This is a tax-transparency initiative, not an announcement of new crypto tax rates. It would change the information some providers must collect and report, helping the ATO check whether taxpayers have met their existing obligations.
Crypto service providers could report transactions from 1 July 2027
Under the proposed domestic regime, businesses providing registrable virtual asset services under Australia’s anti-money laundering laws would report Australian residents’ transactions to the ATO from 1 July 2027.
The types of services in scope include:
- Exchanging crypto for money or other crypto.
- Safekeeping crypto assets for customers.
- Transferring crypto at a customer’s direction.
The draft reporting scope includes exchanges and transfers made by or for Australian residents. This could include transfers between service providers, between users, and to external wallets. A transfer to an external wallet may therefore be relevant even if the receiving wallet is not operated by the platform that initiates the transfer.
If you run a crypto exchange, brokerage, or custodial wallet business, map your services against the proposed scope. Document which transactions you process and what customer and transaction data your systems currently retain. This preparation can help identify gaps before any final commencement requirements take effect.
Reports could include customer details and transaction-level data
The draft proposes that providers report identifying information for each user, including their name, address, ABN and bank account details. For each reportable transaction, the information would include:
- The crypto asset’s name.
- The transaction date and time.
- The value in Australian dollars.
- A transaction ID.
Reports would be quarterly and due 31 days after the end of each reporting period. The information would be subject to the Privacy Act and the ATO’s tax secrecy rules, according to the draft’s reported details.
For platforms, this points to practical work on customer identification, transaction records, data quality and reporting processes. Review whether systems capture consistent timestamps, asset names, AUD values and unique transaction identifiers. Keep an audit trail showing how reported values were calculated and how records were corrected if errors are found.
For traders and businesses, platform reporting does not remove the need to keep your own records. Maintain transaction histories, wallet addresses, exchange statements, acquisition and disposal dates, fees, and supporting evidence for AUD valuations. Keeping records as you transact makes it easier to reconcile activity across multiple platforms and wallets.
CARF reporting could lead to international data exchange in 2028
Under CARF, providers are expected to collect information for the 2027 calendar year and file their first reports in 2028. Australia expects its first exchange of crypto-related information with foreign tax authorities in 2028.
That international dimension matters if you use overseas platforms or have customers and operations across borders. The proposed framework is designed to support information exchange between participating tax authorities. However, it does not mean every crypto transaction or wallet will automatically be visible through a reporting intermediary.
As a point of context, Crypto News Australia reports that Chainalysis estimated in August 2026 that about 14% of on-chain taxable activity falls within CARF’s intermediated reporting scope. That figure highlights a limitation in the framework’s reach; it should not be treated as an exemption from record-keeping or tax obligations.
The bill also proposes changes to the Common Reporting Standard
The bill would extend Australia’s Common Reporting Standard (CRS), which has applied since 2016, to cover e-money products, central bank digital currencies and crypto-referencing derivatives. The proposed changes are intended to take effect from 1 January 2027, subject to the legislation being finalised.
These CRS changes are separate from the proposed domestic crypto reporting start date. If your business offers or uses products that could fall within the expanded scope, identify the relevant products and check what information your systems retain. The precise obligations will depend on the final law and the nature of the product or service.
The ATO already receives crypto data, but Treasury identifies gaps
The draft builds on the ATO’s existing crypto data-matching programme. Crypto service providers currently supply records relating to roughly 700,000 to 1.2 million individuals and entities each year. Treasury says the information varies between providers and does not fully capture holdings on foreign platforms.
The proposed regime aims to establish more consistent reporting and improve cross-border visibility. For Australian businesses and traders, the practical message is straightforward: do not rely solely on a platform’s annual statement. Keep complete records across exchanges, wallets and jurisdictions, and reconcile them regularly.
Use the consultation period to prepare
The bill is still open for consultation, so its final details may change. Crypto platforms, digital asset businesses, traders and accountants can use this period to review the draft and identify operational questions.
A useful preparation checklist:
- Inventory your crypto activity. List the exchanges, wallets, brokers and custody services you use or provide. This gives you a clear view of where records are held.
- Check data completeness. Confirm that transaction IDs, timestamps, asset names, AUD values and customer information can be retrieved consistently.
- Reconcile platform and wallet records. Regular reconciliation helps identify missing transfers and inconsistent transaction histories before reporting or tax return deadlines.
- Monitor Treasury’s final legislation. Track changes to the proposed scope, start dates and reporting requirements rather than treating the draft as settled law.
- Consider whether to make a submission. The deadline is 28 October 2026. Use the official Treasury consultation page for the submission process.
For businesses managing accounting and compliance across jurisdictions, a structured process for bookkeeping, transaction records and reporting can reduce last-minute pressure. Sterlinx Global provides a Global Tax Compliance Suite, including ongoing bookkeeping, tax calculations, relevant filings and year-end compliance support. Contact us to discuss structured compliance support.
Frequently asked questions
When do Australian crypto tax reporting rules start?
The draft proposes domestic reporting to the ATO from 1 July 2027. Under CARF, providers would collect information for the 2027 calendar year and make their first reports in 2028. These dates are proposed and depend on the legislation being enacted.
Who has to report crypto transactions to the ATO?
The draft would require crypto service providers offering registrable virtual asset services under Australia’s anti-money laundering laws to report covered transactions involving Australian residents. This could include exchanges, brokers and providers of custodial or transfer services.
What information will crypto platforms have to provide about Australian users?
The proposed reports would include user details such as name, address, ABN and bank account details, alongside transaction information including the crypto asset, date and time, AUD value and transaction ID. The exact final reporting requirements will depend on the enacted legislation.