We invite views on how Australia applies the Crypto Asset Reporting Framework (CARF).
The consultation paper explores:
a comparison of 2 options:
adding the CARF into Australian tax law
customising a policy approach.
related amendments to the Common Reporting Standard (CRS).
We encourage you to read the supporting documents for more detail on the CARF requirements.
The Crypto Asset Reporting Framework
The Organisation for Economic Co‑operation and Development (OECD) developed the CARF.
The CARF is a new international tax transparency framework. It allows tax authorities to:
collect tax‑related information from providers of crypto asset transactions
share tax‑related information on crypto assets with other tax authorities.
The reporting is annual, standardised and similar to the CRS.
The CARF improves visibility of income from crypto assets. This helps increase compliance with local tax laws and deter tax evasion.
Supporting documents
International Standards for Automatic Exchange of Information in Tax Matters: Crypto‑Asset Reporting Framework and 2023 Update to the Common Reporting Standard – OECD
Crypto‑Asset Reporting Framework: Frequently Asked Questions [PDF 184 KB] – OECD
Crypto‑Asset Reporting Framework XML Schema: User Guide for Tax Administrations – OECD
Next steps
Future consultation may test:
draft legislation
specific design issues including formats for reporting to the Australian Taxation Office.
