Overview
The Junior Minerals Exploration Incentive (JMEI) scheme commenced in 2018. The incentive aims to increase the amount of investment in junior minerals exploration companies to support more greenfields exploration activity.
The JMEI allows junior minerals exploration companies to convert a portion of their tax losses into credits. These credits may be passed onto investors of newly issued shares as either a franking credit or refundable tax offset. The scheme has been extended for a further four years until the 2024-25 income year, with an additional investment of $100 million.
Subdivision 418-190 of the Income Tax Assessment Act 1997 (ITAA 1997) requires that an annual impact assessment is conducted on the operation of the scheme. This includes measuring how much additional exploration or prospecting is attributable to the scheme each year of its operation.
The consultation process provides an opportunity for industry and the broader community to provide information on the impact of the 2018-19 round of the JMEI.
Discussion paper
Read the discussion paper and make a written submission.
- Annual Impact Assessment - Junior Minerals Exploration Incentive: Discussion paper for Income Year 2018-19 [239KB PDF] [101KB DOCX]