Hydrogen Production and Critical Minerals Tax Incentives

News Tax & Compliance General Updates

Date: 17th Dec, 2024 Source: Australian Taxation Office (ATO) Country: Australia Original Source

Brief

On May 14, 2024, the Government announced changes to accelerate investment in Future Made in Australia priority industries as part of the 2024–25 Budget. The Government will establish temporary tax incentives for renewable hydrogen production and critical minerals processing, providing a $2 incentive per kilogram of renewable hydrogen produced and a refundable tax offset of up to 10% for eligible critical minerals processing costs.

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Australian Taxation Office (ATO)

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Hydrogen Production and Critical Minerals Tax Incentives

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Hydrogen Production and Critical Minerals Tax Incentives

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