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Australia introduces draft legislation for crypto tax reporting starting July 2027

Australia has introduced draft legislation requiring cryptocurrency platforms to report transactions involving Australian residents to tax authorities and share data internationally under the OECD framework starting in July 2027.

The national flag of Australia waving against a blue sky with clouds.
Image: @Cointelegraph

Australia has introduced draft legislation that would require cryptocurrency platforms to report transactions involving Australian residents to tax authorities starting in July 2027, according to Watcher.Guru and Crypto Briefing. The proposed measures also mandate international tax information sharing.[2][1]

According to Cointelegraph, the draft legislation adopts the crypto tax reporting framework established by the OECD, allowing countries to exchange cryptocurrency transaction records. Crypto Briefing reported that the plan is intended to enhance tax compliance, reduce tax evasion, and align Australia with global standards, directly impacting both crypto platforms and traders.[3][1]

Key facts

  • Australia introduced draft legislation to adopt the OECD crypto tax reporting framework, facilitating international information sharing on crypto transactions.
  • Under the bill, crypto platforms must report transactions involving Australian residents to tax authorities beginning in July 2027.
  • The crypto reporting plan is intended to bolster tax compliance, reduce evasion, and align with global regulatory standards, affecting traders and platforms.

Sources 路 3 sources

  1. CB

    Crypto BriefingArticle 路

    Australia sets July 2027 start for crypto transaction reporting to tax office Australia's crypto reporting plan enhances tax compliance, reduces evasion, and aligns with global standards, impacting traders and platforms. The post Australia sets July 2027 start for crypto transaction reporting to tax office appeared first on Crypto Briefing .

    Open source
  2. WG

    Watcher.Guru@WatcherGuruPost on X 路

    JUST IN: 馃嚘馃嚭 Australia introduces legislation requiring crypto transaction reporting and international tax information sharing. Under the bill, crypto platforms would be required to report transactions involving Australian residents to tax authorities starting July 2027.

    Open source
  3. CO

    Cointelegraph@CointelegraphPost on X 路

    馃嚘馃嚭 JUST IN: Australia has introduced draft legislation to adopt the OECD鈥檚 crypto tax reporting framework, enabling countries to exchange crypto transaction information. https://t.co/EhlvO22jM1

    Open source