Diane is an expert on Australian taxation law and policy.  She applies empirical approaches to taxation law with the object of considering economic, political and environmental impacts on tax policy. She uses both qualitative and quantitative research approaches. Methods include comparative studies, interviews, statistics, text analysis, case studies, grounded theory, Pierre Bourdieu's social practice theory and methods of historical research.

Diane's major research areas are taxation support for renewable energy; taxation of natural resources, such as resource rent taxes, royalties; and taxation policy and reform.

In 2024 she is a committee member of the Energy Justice and Social Contract Project, at the University de Pau and des Pays de l'Adour, France. The project is financed by the Nouvelle Aquitaine Region, France.

Diane has held roles in the minerals resource sector with Conzinc Rio Tinto of Australia (CRA) Ltd in financial management areas. She is an experienced professional having worked with Ernst and Young and was a Registered Tax Agent. Diane has worked in the financial services sector as the taxation manager with Australia's largest administrator of industry superannuation funds. For eight years she was Manager (Taxation and Banking) at La Trobe University, Melbourne.

In 2024 Diane is a committee member of the 'Energy Justice and the Social Contract Project 2023-27’, Université de Pau et des Pays de l'Adour, France. The project is financed by Nouvelle Aquitaine Region, France.

In 2018, 2019 and 2022 Diane was a member Monash University delegation to the UN Climate Change Conference in Poland, Spain and Egypt.  In 2018 Diane received the Monash Business School Dean's Commendation for Research Impact.

Diane has presented research papers at conferences both in Australia and overseas, including at Edinburgh and Cambridge in 2012, 2014, 2020, 2022 and 2024.

In 2015 Diane was awarded a Visiting Fellowship to the Australian National University. In 2016 Diane visited the International Monetary Fund (IMF) in Washington DC to pursue extractive industry tax issues.

In 2014 and 2015 the National Research Institute of Papua New Guinea (PNG) and the PNG Treasury appointed Dr Diane Kraal and Dr Craig Emerson (former Federal Minister) to research petroleum and mining tax reform. Tax reform in PNG has the support of the IMF. PNG's National Budget 2017 broadly includes Kraal and Emerson’s petroleum and mining tax reform initiatives.