What happened
Treasury released draft legislation implementing the OECD's Crypto-Asset Reporting Framework into domestic law. Starting 1 July 2027, registered Australian crypto service providers must report customer identities, transaction values, wallet transfers, and asset details to the Australian Taxation Office quarterly. Global tax authority information exchanges under the international framework will commence in 2028.
Why it matters here
Mandatory reporting removes transaction anonymity for Australian crypto holders, equipping the ATO with precise data on off-exchange transfers, cross-border movements, and token swaps. Crypto assets remain classified as capital gains tax property, meaning undetected trading profits, staking rewards, and wallet transfers will face automatic tax matching.
What to watch
The conclusion of Treasury's public consultation process on 28 October 2026, followed by the introduction of the final tax reporting bill to parliament.
Source
cryptonews.com.au