According to Cointelegraph, Australia has published a draft bill aimed at implementing the Organisation for Economic Co‑operation and Development’s (OECD) cryptocurrency tax reporting framework. The legislation would require compliance with CARF – the common reporting of asset‑related financial information – as part of the country’s tax obligations.
Australia joins 77 other jurisdictions that have pledged to adopt CARF. Under this arrangement, the first international exchanges of crypto‑related tax data are projected to occur in 2028.
