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

Schedule 1   Hydrogen production tax incentive

Part 1   Main amendments

Income Tax Assessment Act 1997

4   Subsection 995-1(1)

Insert:

correction notice , in relation to a *registered PGO certificate, has the meaning given by section 421-40.

grid matching requirements has the meaning given by section 421-25.

holder , of a *registered production profile, means the holder of the profile under the Future Made in Australia (Guarantee of Origin) Act 2024.

HPTO community benefit rules (short for "hydrogen production tax offset community benefit rules") means the rules made under section 421-45.

hydrogen production tax offset has the meaning giving by subsection 421-5(1).

initial reconciliation period , for a *registered PGO certificate, has the meaning given by section 421-35.

offset period has the meaning given by section 421-30.

production emissions intensity has the meaning given by section 421-20.

production pathway has the same meaning as in the Future Made in Australia (Guarantee of Origin) Act 2024.

production profile has the same meaning as in the Future Made in Australia (Guarantee of Origin) Act 2024.

registered PGO certificate : a PGO certificate (within the meaning of the Future Made in Australia (Guarantee of Origin) Act 2024) is a registered PGO certificate if the Clean Energy Regulator:

(a) has decided to register the certificate under section 56 of that Act; and

(b) has not invalidated the certificate under section 64 of that Act.

registered production profile : a *production profile is a registered production profile if:

(a) the Clean Energy Regulator has decided to register the profile under section 33 of the Future Made in Australia (Guarantee of Origin) Act 2024); and

(b) the registration of the profile has not been:

(i) cancelled under section 45 of that Act; or

(ii) surrendered under section 48 of that Act.