Ann: Half Yearly Report and Accounts, page-53

I suspect most of the $500 million is for another attempt at CCS that is as likely to be economically viable as previous attempts (IIRC the Howard govt spent $100's of millions on CCS research without anything commercially viable to show for it). They'll probably try to pump it into depleted oil and gas reservoirs under Bass Strait, and promise hand on heart that it'll never escape.

Otherwise, making Hydrogen from coal is nothing new - hydrogen was the main component of "town gas" or "coal gas" that was used before the commercialisation of petroleum gas lead to LPG.