No New Laws, But Stricter Guidance Ahead

In March 2025, the Australian Government released its official response to the Board of Taxation’s review into how digital assets are taxed.

The headline? No new crypto-specific tax laws – for now.

But don’t be fooled: this isn’t a green light to relax. Instead, it signals a shift toward stricter guidance and increased ATO oversight.

Here’s what that means for crypto investors, builders, and anyone operating in Australia’s digital asset space.

1. No new laws, but compliance still matters

The Government isn’t planning to introduce new crypto tax legislation in the foreseeable future. Instead, existing rules – capital gains tax, income tax, and GST – continue to apply. This is disappointing to advocates for tax reform in this area, as the current rules aren’t fit for purpose.

Notably, the Board of Taxation identified many key areas that need further guidance, such as how wrapping, bridging, and DeFi are taxed. Despite this, the board has decided to continue with a “wait and see” approach rather than implement any new rules that consider the nuances of crypto.

So if you're trading, staking, flipping NFTs, or active in Defi, your activity remains taxable. The ATO will continue to interpret your activity under current laws – so accurate reporting matters more than ever.

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2. The ATO is now front and centre

The ATO is taking the lead on tax clarity, with a crypto working group being formed to consult with industry and publish new guidance.

While the ATO has provided some guidance on their website over the years, there have been no public rulings on crypto tax in over a decade. So things are long overdue.

Expect clearer rules and fewer excuses. If you’re not already keeping accurate records across wallets and chains, now’s the time to start.

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3. Future changes will follow four key principles

The Government has endorsed a framework that will guide any changes to crypto tax, built around the following:

• Neutrality – crypto treated like traditional assets
• Simplicity – rules that are clear and manageable
• Integrity – reducing loopholes and evasion
• Competitiveness – keeping Australia in line with global peers

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4. DeFi, DAOs, NFTs and GameFi are in focus

The Government flagged these areas for future review – no new rules yet, but they’re officially under scrutiny. The ATO will take the lead on issuing guidance for these areas over time.

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5. No carve-outs or concessions (yet)

No tax breaks or startup exemptions have been proposed – Australia is taking a cautious, compliance-first approach, unlike some other jurisdictions. The regulation focus shows the Government is focused on protecting consumers first and innovation second.

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6. Expect more guidance, not looser rules

The message is clear: tighter expectations and compliance.

The Government wants consistency, not confusion, and the ATO is expected to play a bigger role in shaping how the rules are applied.

Be on the lookout for more guidance and a more active ATO in audits, as they will be getting more data when the Crypto Asset Reporting Framework (CARF) kicks in in 2026.

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A broader regulatory picture is taking shape

Alongside the tax response, Treasury released its Statement on Developing an Innovative Australian Digital Asset Industry. Here’s what’s next:

• A licensing framework for Digital Asset Platforms (DAPs) – focused on platforms that hold or trade assets on behalf of consumers.
• Stablecoins for payments will be regulated under existing Stored-Value Facility (SVF) laws and by APRA.
• Both regimes will leverage the existing AFSL framework (not a separate crypto regime or authorisation), applying financial services obligations like capital adequacy and client asset protection.

The intent is to balance innovation with consumer protection and align with global peers like the EU and Singapore.

2025 is a transition year

The Government is laying the groundwork for longer-term reform, while the ATO gets to work now. Legislative change may take time, but compliance expectations are already rising.

We know the ATO is already investing further into its data-matching programs and using AI to identify taxpayers to audit, in all areas of the economy.

These audits are based on “risk flags,” and the more you show, the more likely you are to be audited. Things like owning crypto but not reporting any capital gains or losses, unexplained income, or a public presence in the crypto space could all be triggers for an audit.

Final thoughts: Compliance is the new normal

No new laws? Sure. But no more excuses, either. With the ATO stepping up and Treasury shaping a broader regime, crypto in Australia is entering a new phase of maturity and accountability.

If you’re trading, earning, or building in crypto, it’s time to:

• Get your records in order
• Understand what the ATO expects
• Track activity across wallets
• Prepare for tax time with confidence

Summ (formerly Crypto Tax Calculator) makes it easy to stay on top of it all – giving you real-time tracking, clear categorisation, and ATO-aligned tax outcomes – so you can stay focused on building, not backtracking.