The long-awaited decision sets out a successor to a world-first law that Australia passed in 2021, which was designed to make giants like Meta and Google pay for hosting news on their platforms.
Earlier this year Meta - which owns Facebook and Instagram - announced it would not renew payment deals it had in place with Australian news organisations, setting up a standoff with lawmakers.
The new rules, announced on Thursday, will require firms that earn more than A$250m ($160m; £125m) in annual revenue to enter into commercial deals with media organisations, or risk being hit with higher taxes.
Unlike the previous model, the new framework - called the News Bargaining Incentive - will require tech firms to pay even if they do not enter deals with publishers.
"Digital platforms receive huge financial benefits from Australia and they have a social and economic responsibility to contribute to Australians' access to quality journalism," Assistant Treasurer Stephen Jones said on Thursday.