Junior Minerals Exploration Incentive: Annual impact assessment for the 2017-18 financial year

Closed 3 Aug 2020

Opened 13 Jul 2020

Overview

We’re reviewing the impact of the Junior Minerals Exploration Incentive (JMEI), in line with legislative requirements.

The Junior Minerals Exploration Incentive scheme began in March 2018. The scheme aims to increase the amount of investment in small minerals exploration companies to support more exploration activity.

The Treasury Laws Amendment (Junior Minerals Exploration Incentive) Act 2018 requires an annual assessment. It measures how much additional exploration or prospecting we can attribute to the scheme each year of its operation.

We are seeking views from industry stakeholders and participants on the impact of the scheme for the 2017-18 financial year.

Discussion paper

Read more in our Discussion paper for Income Year 2017-18 [168KB PDF] [73KB DOCX].

You can provide your comments in a written submission. Your feedback will inform the annual impact assessment. We’ll publish a report on the ATO website when we have finalised our assessment.

Note that participants and applicants can also take part in our JMEI evaluation survey. This will allow you to provide feedback on the scheme design, implementation, early outcomes and impact more broadly.

What Happens Next

Your submission will inform the impact assessment of the 2017-18 annual impact assessment of the JMEI scheme. In accordance with Subdivision 418-190 of the Income Tax Assessment Act 1997 (the ITA Act) a copy of this impact assessment will be published on the Australian Taxation Office website as soon as practicable after the completion of the report.

Audiences

  • Junior Minerals Exploration Incentive scheme

Interests

  • Mineral exploration