The Future Made in Australia (Production Tax Credit and Other Measures) Bill 2024 is set to propel Australia's critical minerals industry towards becoming a global decarbonisation leader. The new legislation introduces production tax incentives for renewable hydrogen and critical minerals. It includes the Hydrogen Production Tax Incentive, offering $2.00 per kilogram of renewable hydrogen produced between 2027–28 and 2039–40, and the Critical Minerals Production Tax Incentive, which provides 10% of relevant processing and refining costs for Australia's 31 critical minerals. Industry stakeholders like Chamber of Minerals and Energy WA and Association of Mining and Exploration Companies have expressed support for the bill, citing its potential to level the competitive playing field, spur investment, and boost confidence in the critical minerals sector. Federal Minister for Resources Madeleine King highlights the significance of these tax incentives in fostering new industries aligned with net-zero goals and enhancing economic resilience. Overall, the bill aims to encourage private sector investment, drive innovation, and contribute to Australia's economic diversification and decarbonisation efforts.