The Australian Government has successfully passed the Future Made in Australia (Production Tax Credit and Other Measures) Bill 2024 in the Senate, introducing significant production tax incentives for renewable hydrogen and critical minerals. This legislation includes the Hydrogen Production Tax Incentive, offering $2 per kilogram of renewable hydrogen produced between 2027-2028 and 2039-40, lasting for up to ten years per project. Additionally, the Critical Minerals Production Tax Incentive will cover ten percent of relevant processing and refining costs for Australia's 31 critical minerals processed and refined between 2027-28 and 2039-40, also for up to ten years per project. These incentives aim to support Australia's efforts in decarbonizing industries and enhancing the production and processing of essential minerals required for the ongoing energy transition. The implementation of these tax incentives is expected to play a crucial role in boosting industrial decarbonization, increasing the domestic processing of critical minerals, and facilitating the shift towards cleaner energy sources.