Australia is set to implement new refundable tax credits by July 2027 to boost the production of hydrogen and critical minerals. The Australian Taxation Office has initiated consultations on the design of these credits, which will be available from July 2027 until June 2040. The credits will come in the form of either a cash refund or a reduced income tax liability, providing financial support to companies involved in these sectors. The tax office is actively seeking input from businesses regarding the eligibility criteria and administrative processes related to these incentives. Part of the proposed initiative includes a critical minerals production tax credit, allowing qualifying companies to recoup 10% of their processing and refining expenses. This move aims to stimulate growth in the mining industry and promote the development of crucial minerals and hydrogen production in Australia.