On 17 December 2025, as part of the 2025–26 Mid-Year Economic and Fiscal Outlook (MYEFO), the Government announced it will implement the Crypto-Asset Reporting Framework (CARF) and a domestic crypto tax transparency reporting regime. There would also be associated amendments to the Common Reporting Standard (CRS).
This measure is not yet law.
The CARF and associated CRS updates
The CARF is an international standard, developed by the OECD to improve tax transparency for crypto-asset transactions. It enables jurisdictions to collect and automatically exchange information on crypto-asset transactions involving non-residents.
The CRS is the existing OECD framework for automatic exchange of financial account information between jurisdictions. The amendments to the CRS modernise the standard to ensure complementarity with the CARF and strengthen due diligence and reporting requirements for financial institutions.
The implementation of the CARF and associated CRS updates ensures that Australia is an active participant in the international exchange of crypto asset tax information and global efforts to deter offshore tax evasion.
Australia's first exchange under the CARF is expected to commence in 2028.
The domestic crypto tax transparency reporting regime
The new domestic reporting framework will enhance the ATO’s oversight of crypto asset transactions by Australian residents to improve compliance with Australian tax laws. It complements the Government's efforts to strengthen tax transparency and improve the integrity of the tax system through implementation of the CARF.