Australia Drafts Bill For OECD Crypto Tax Reporting
Australia has released a draft bill to adopt the OECD crypto tax reporting framework, with data sharing slated for 2028.
Australia has released a draft bill designed to enable international data sharing of cryptocurrency tax information under Organisation for Economic Co-operation and Development (OECD) rules, according to Cointelegraph. The proposed legislation also introduces a domestic reporting regime for digital assets.
International Framework Adoption
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According to Cointelegraph, Australia is among 77 jurisdictions that have committed to adopting the Crypto-Asset Reporting Framework (CARF). The country's first international exchanges of crypto tax data under the framework are expected to take place in 2028.
Key facts
- Australia released a draft bill to adopt the OECD crypto tax reporting framework.
- The legislation enables international data sharing and establishes a domestic reporting regime.
- Australia is one of 77 jurisdictions committed to adopting CARF.
- First international exchanges of crypto tax data are expected in 2028.
Source: cointelegraph.com
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