In the second installment of this series, Belinda Crowley discusses the Junior Minerals Exploration Incentive (JMEI).

Applications for the JMEI scheme open on 1 June, and are assessed in order of receipt. As the pool of credits is limited, junior explorers wishing to access the incentive will need to apply as soon as possible.

The JMEI allows junior minerals exploration companies to convert a portion of their tax losses into credits. The incentive aims to increase the amount of investment in junior minerals exploration companies to support more greenfields exploration activity.

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.

WATCH PART 2 HERE: 

• Next Episode: Dividend Withholding Tax

ABOUT THE HOST:

Based in Brisbane, Belinda Crowley is a Principal of the Corporate Tax Services division, specialising in local and international corporate tax matters.