The 2017-18 Junior Minerals Exploration Incentive released
The 2017-18 annual impact assessment for the Junior Minerals Exploration Incentive examines the impact of the first round of the incentive.
The Junior Minerals Exploration Incentive supports junior exploration companies to undertake greenfields mineral exploration.
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.
Outcomes include:
- 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.