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

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

No. 9, 2025

An Act to amend the law relating to taxation and Indigenous Business Australia, and for related purposes

Contents 1 Short title 2 Commencement 3 Schedules Schedule 1—Hydrogen production tax incentive Part 1—Main amendments Income Tax Assessment Act 1997 Taxation Administration Act 1953 Part 2—Shortfall interest charge Income Tax Assessment Act 1936 Taxation Administration Act 1953 Part 3—Schemes to reduce income tax Income Tax Assessment Act 1936 Schedule 2—Critical minerals production tax incentive Part 1—Main amendments Income Tax Assessment Act 1997 Part 2—Other amendments Income Tax Assessment Act 1936 Income Tax Assessment Act 1997 Taxation Administration Act 1953 Schedule 3—Amendments relating to Indigenous Business Australia Aboriginal and Torres Strait Islander Act 2005

Future Made in Australia (Production Tax Credits and Other Measures) Act 2025 No. 9, 2025

An Act to amend the law relating to taxation and Indigenous Business Australia, and for related purposes

[Assented to 14 February 2025]

The Parliament of Australia enacts:

1 Short title This Act is the Future Made in Australia (Production Tax Credits and Other Measures) Act 2025.

2 Commencement (1) Each provision of this Act specified in column 1 of the table commences, or is taken to have commenced, in accordance with column 2 of the table. Any other statement in column 2 has effect according to its terms.

Commencement information Column 1 Column 2 Column 3 Provisions Commencement Date/Details 1. Sections 1 to 3 and anything in this Act not elsewhere covered by this table The day this Act receives the Royal Assent. 14 February 2025 2. Schedule 1, Part 1 The later of: (a) the first 1 January, 1 April, 1 July or 1 October to occur after the day this Act receives the Royal Assent; and (b) the first 1 January, 1 April, 1 July or 1 October to occur after the day the Future Made in Australia (Guarantee of Origin) Act 2024 commences. However, the provisions do not commence at all if the event mentioned in paragraph (b) does not occur. 3. Schedule 1, Part 2 The later of: 1 April 2025 (a) the first 1 January, 1 April, 1 July or 1 October to occur after the day this Act receives the Royal Assent; and (paragraph (a) applies) (b) the first 1 January, 1 April, 1 July or 1 October to occur after the day the Treasury Laws Amendment (Multinational—Global and Domestic Minimum Tax) (Consequential) Act 2024 commences. However, the provisions do not commence at all if the event mentioned in paragraph (b) does not occur. 4. Schedule 1, Part 3 The later of: (a) at the same time as the commencement of the provisions covered by table item 2; and (b) immediately after the commencement of the provisions covered by table item 5. However, the provisions do not commence at all if the event mentioned in paragraph (a) does not occur. 5. Schedule 2 The first 1 January, 1 April, 1 July or 1 October to occur after the day this Act receives the Royal Assent. 1 April 2025 6. Schedule 3 The day after this Act receives the Royal Assent. 15 February 2025