Apply for the second year of the Junior Minerals Exploration Incentive
|Apply for the second year of the
Junior Minerals Exploration Incentive
• This is the second year you can apply for the Junior Mineral exploration incentive scheme (JMEI), which replaced the now closed Exploration Development Incentive (EDI).
• The JMEI is a four year scheme offered through the ATO to encourage shareholder investment in small exploration companies undertaking greenfields mineral exploration in Australia.
• Companies can distribute exploration credits to equity shareholders by giving up a portion of their tax losses to create these credits.
• Allocation of credits to eligible companies will be on a first-in, first-served basis until the annual cap has been reached, which is $31,532,069 million for the 2018-19 financial year.
• Applications to participate in the JMEI for the 2019 income tax year will open at 9:00am AEST on 1 June 2018 and close at 11:59pm AEST on 30 June 2018. Applications received outside of this timeframe will not be considered.
• For eligibility requirements and more information, visit ato.gov.au/JMEI.
• Reporting information for the 2017-18 year of the JMEI is now available on data.gov.au.