#AustraliaProposesCryptoTransactionReportingLaw
đŠđș Australia moves to put crypto trades on the tax office's radar
đ Treasury released a draft bill on Oct 15. Public comments close Oct 28.
đ It would adopt the OECD's Crypto-Asset Reporting Framework (CARF) plus a new domestic reporting regime.
đ Crypto service providers would report customer identity, tax residency and transaction values to the ATO.
đ Proposed start: Jan 1, 2027. First cross-border data exchanges expected in 2028.
đ Australia is one of 77 jurisdictions committed to CARF.
â ïž It's an exposure draft, not law yet.
What it means for crypto: less room for unreported gains, but clearer rules can also make it easier for institutions to join in.
Will tax transparency push users toward regulated platforms, or away from them? đ
$BTC $ETH
#AustraliaProposesCryptoTransactionReportingLaw #CARF #CryptoTax #Regulation
đŠđș Australia moves to put crypto trades on the tax office's radar
đ Treasury released a draft bill on Oct 15. Public comments close Oct 28.
đ It would adopt the OECD's Crypto-Asset Reporting Framework (CARF) plus a new domestic reporting regime.
đ Crypto service providers would report customer identity, tax residency and transaction values to the ATO.
đ Proposed start: Jan 1, 2027. First cross-border data exchanges expected in 2028.
đ Australia is one of 77 jurisdictions committed to CARF.
â ïž It's an exposure draft, not law yet.
What it means for crypto: less room for unreported gains, but clearer rules can also make it easier for institutions to join in.
Will tax transparency push users toward regulated platforms, or away from them? đ
$BTC $ETH
#AustraliaProposesCryptoTransactionReportingLaw #CARF #CryptoTax #Regulation