Australia seeks public comment on crypto tax report

On November 23rd, the Australian Treasury invited the public to provide feedback on the implementation of the Organization for Economic Co-operation and Development's (OECD) cryptoasset reporting model.
In a consultation paper released on November 21, the Treasury said the implementation of the CARF, developed by the Organisation for Economic Co-operation and Development (OECD), would "complement the government's efforts to enhance tax transparency." The paper will explore the policy merits of incorporating the OECD model into domestic tax law and consider an implementation timeline that minimises compliance costs.
The CARF will require crypto intermediaries, such as exchanges and wallet providers, to report specific crypto transactions to tax authorities. This includes information on the buying and selling of crypto assets. As explained in the consultation paper, Australia expects CARF reporting to begin sometime in 2026.