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-B 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.]
The * holder of a * registered production profile for hydrogen may apply to the Clean Energy Regulator for the profile to be certified:
(a) in relation to a particular facility, and a particular * production pathway, specified in the profile; and
(b) from a particular time.
421-50(2)
The time specified in the application, as mentioned in paragraph (1)(b) , must not be later than the start of the day when the application is made (and may be any time before the start of that day).
421-50(3)
The application is taken not to be made unless:
(a) it is in a form (if any) prescribed under subsection (5) ; and
(b) it is accompanied by any information, documents or other materials prescribed under subsection (5) ; and
(c) without limiting paragraphs (a) and (b) of this subsection - it is accompanied by an eligibility statement for the * registered production profile that relates to the facility and the * production pathway.
421-50(4)
For the purposes of paragraph (3)(c) , an eligibility statement for the * registered production profile that relates to the facility and the * production pathway is a statement by the * holder of the profile to the effect that there are reasonable grounds to believe that, if the profile is certified, a company will be entitled to the * hydrogen production tax offset for an income year in respect of one or more kilograms of hydrogen produced at the facility in accordance with the production pathway.
421-50(5)
The Clean Energy Regulator may, by notifiable instrument, do any of the following:
(a) prescribe a form for the purposes of paragraph (3)(a) ;
(b) prescribe information, documents or other materials for the purposes of paragraph (3)(b) .
[ CCH Note: S 421-50 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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