The 2017-18 Junior Minerals Exploration Incentive (JMEI) annual impact assessment into greenfields investment made by junior mineral exploration companies attributable to the scheme is now available.
- 23 companies submitted successful applications to the Commissioner of Taxation
- Total of $6,532,069 of unallocated credits were rolled forward to the next income year
- JMEI participants raised $12.2 million in capital, however, directly attributing the capital raising to JMEI is difficult due to the multitude of factors that affect a participants ability to raise capital.
The JMEI supports junior exploration companies to undertake greenfields mineral exploration. In 2017-18, the scheme was allocated $100 million over four years. The scheme allows eligible exploration companies to generate tax credits. They can do this by giving up a portion of their income tax losses from eligible exploration expenditure in an income year.