Income Tax Assessment Act 1997
View history note
Hide history note[ CCH Note: Div 421 will be inserted by No 9 of 2025, s 3 and Sch 1 item 3, effective 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.]
[ CCH Note: Subdiv 421-A will be inserted by No 9 of 2025, s 3 and Sch 1 item 3, effective 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.]
For the purposes of this Division, a kilogram of hydrogen is taken to be produced at a facility at the time when the last part of the batch of hydrogen that contains the kilogram leaves the production gate (within the meaning of the Future Made in Australia (Guarantee of Origin) Act 2024 ) for hydrogen at the facility.
421-15(2)
However, if:
(a) the production of the batch of hydrogen commenced before 1 July 2027; and
(b) the last part of the batch of hydrogen leaves the production gate for hydrogen at the facility on or after 1 July 2027;
then, for the purposes of this Division, each kilogram of hydrogen contained in the batch is taken to be produced at the facility before 1 July 2027.
Note:
A company is not entitled to the hydrogen production tax offset in respect of hydrogen produced before 1 July 2027: see paragraph 421-5(1)(a) .
[ CCH Note: S 421-15 will be inserted by No 9 of 2025, s 3 and Sch 1 item 3, effective 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.]
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