The Australian Government successfully passed the Future Made in Australia (Production Tax Credit and Other Measures) Bill 2024 in the Senate. This legislation is designed to provide production tax incentives specifically for renewable hydrogen and critical minerals. The bill includes the introduction of the Hydrogen Production Tax Incentive, which will offer $2 per kilogram of renewable hydrogen produced within the years 2027-2028 and 2039-40 for a duration of up to ten years per project. Additionally, the legislation incorporates the Critical Minerals Production Tax Incentive, providing ten percent of processing and refining costs for Australia's 31 critical minerals processed and refined between 2027-28 and 2039-40, also for a period of up to ten years per project. These incentives have been established to support Australia's ongoing efforts to decarbonize its industries, promote the production of necessary minerals for the energy transition, and enhance the nation's position in the renewable energy sector. By encouraging the development of renewable hydrogen and supporting critical minerals processing, the government aims to strengthen the country's industry, reduce carbon emissions, and contribute to a more sustainable energy future. This initiative aligns with Australia's commitment to combatting climate change and transitioning towards cleaner energy sources.