The Australian Taxation Office recently released guidance on temporary tax incentives related to hydrogen and mineral production, part of the 2024-2025 Budget’s 'Future Made in Australia' package. The guidance covers two key areas: the Critical Minerals Production Tax Incentive (CMPTI) and the Hydrogen Production Tax Incentive (HPTI). The CMPTI offers a 10 percent refundable tax offset for qualifying expenditures made on processing feedstock containing critical minerals to produce refined minerals that are chemically distinct. On the other hand, the HPTI provides a refundable tax offset of A$2 per kilogram of hydrogen produced by eligible companies in Australia, whether resident or nonresident. These tax incentives aim to incentivize companies to invest in innovation and technology to support Australia's transition to a more sustainable and environmentally friendly economy. By encouraging the development of hydrogen production and critical minerals processing, the government hopes to drive economic growth and job creation in these sectors. The tax incentives are designed to not only support existing operations but also attract new investment in the Australian mineral and hydrogen industries. Overall, the guidance signals a positive step towards promoting growth and innovation in the country's key sectors.