Review of the Tax Treatment of Digital Assets and Transactions in Australia


On 8 December 2021, the former treasurer tasked the Board of Taxation (Board) with a review of the tax treatment of digital assets and transactions (crypto assets) in Australia. This was part of a broader response to a review of the Australian payments system and the regulation of digital assets.

The former government released the terms of reference for the review on the 21 March 2022. These terms of reference were confirmed by the government in August 2022.

Terms of reference

With reference to Australia’s strong competitive position as an early adopter of digital innovations relative to other jurisdictions, the scope of digital transactions and assets, and without increasing the overall tax burden, the Board is asked to:

  • consider the current Australian taxation treatment of digital assets and transactions and emerging tax policy issues
  • consider the awareness of the taxation treatment by both retail and wholesale investors and those transacting in digital assets as part of their business
  • consider the characteristics and features of digital assets and transactions in the market, including the rapid evolution of technology supporting the broader digital asset ecosystem
  • analyse the taxation of digital assets and transactions in comparative jurisdictions and consider how international experience may inform the taxation of digital assets and transactions in Australia and
  • consider whether or not any changes to Australia’s taxation laws and/or their administration are warranted in the context of digital assets and transactions, both for retail and wholesale investors.

Working group

The Board appointed a working group to conduct the review.

The working group included at various times Board members Mr Anthony Klein (to the end of his term), Ms Tanya Titman, Ms Andrea Laing, Dr Julianne Jaques KC and Mr Ian Kellock as well as Mrs Rosheen Garnon (Board Chair).

In addition, the working group comprised of specialists in taxation and digital assets across academia, the tax profession and digital asset industry, and officials from The Treasury and the Australian Taxation Office.



In August 2022, the Board published a Consultation Guide which provides an overview of crypto assets and the current taxation treatment within Australia.

The guide outlined relevant government reports and announcements. It also posed questions for interested parties to consider in their review submission.


The Board held consultations throughout September 2022 attended by representatives from:

  • the tax profession
  • academia
  • crypto exchanges and platforms
  • software providers
  • retail and wholesale investors.

Following the initial public consultation process, the Board undertook extensive consultation in Australia and with international revenue authorities.


The Board delivered its report to the government on 23 February 2024.

As is standard protocol, publication of the Board’s report is a matter for government.


The Board received 41 written submissions, including 2 confidential submissions.

The Board thanks the many representatives who participated in our consultation process.

More information

If you have questions about the review, contact the Board of Taxation Secretariat at