Future Made in Australia (Production Tax Credits and Other Measures) Act 2025 (9 of 2025)

Schedule 1   Hydrogen production tax incentive

Part 3   Schemes to reduce income tax

Income Tax Assessment Act 1936

23   After paragraph 177C(1)(be)

Insert:

; or (bf) a hydrogen production tax offset being allowable to the taxpayer in relation to a year of income where the whole or a part of the offset would not have been allowable, or might reasonably be expected not to have been allowable, to the taxpayer in relation to that year of income if the scheme had not been entered into or carried out;