Hydrogen incentives and critical minerals sector supportBY PAUL LINGARD, SANJAY WAVDE | VOLUME 4, ISSUE 1On 25 November 2024, the government tabled the Future Made in Australia (Production Tax Credits and Other Measures) Bill 2024 (Production Tax Credits and Other Measures Bill) to enact the HPTI in addition to a Critical Minerals Production Tax Incentive (CMPTI). The Production Tax Credits and Other Measures Bill passed both Houses of Parliament on 11 February 2025. The Senate incorporated one change to ensure uranium is unable to be a critical mineral for the purposes of the scheme. The Production Tax Credits and Other Measures Bill provides for a refundable tax offset worth $2 per whole kilogram of eligible renewable hydrogen produced in Australia, which can be claimed for a maximum of 10 years. More Whitepapers |