Australia: Hydrogen, critical minerals production tax incentives bill passes Parliament
Legislation passed with Senate amendments
The Future Made in Australia (Production Tax Credits and Other Measures) Bill 2024 passed the Senate with amendments, which were then approved by the House of Representatives, enabling the legislation to pass Parliament on February 11, 2025.
The legislation would:
- Establish the hydrogen production tax incentive (HPTI) in the form of a refundable tax offset
- Establish the critical minerals production tax incentive (CMPTI) in the form of a new refundable tax offset
- Enable Indigenous Business Australia to leverage their capital to invest in First Nations communities and businesses
The amendments, moved by the Australian Greens, would prevent uranium being added to the list of critical minerals as prescribed by regulations.
Earlier this month, the Senate Economics Legislation Committee recommended the Bill be passed. Read TaxNewsFlash