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The Australian Treasury Department invites the public to provide feedback on the implementation of the Organization for Economic Cooperation and Development's (OECD) crypto asset reporting model. In a consultation document released on November 21st, the Ministry of Finance stated that implementing the CARF developed by the Organization for Economic Cooperation and Development (OECD) will "complement the government's efforts to enhance tax transparency." The document will explore the policy advantages of incorporating the OECD model into domestic tax laws and consider an implementation timetable that can minimize compliance costs. CARF will require cryptocurrency intermediaries, such as exchanges and wallet providers, to report specific cryptocurrency transactions to tax authorities. This includes buying and selling information of encrypted assets. As explained in the consultation document, Australia expects the CARF report to begin at some point in 2026.
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