Important reminder for Greenfields exploration companies! The window for the FY2024 Junior Minerals Exploration Incentive (JMEI) opens at 9:00AM AEST on 1 June 2023.

The JMEI encourages investment in small exploration companies that carry out Greenfields mineral exploration in Australia. Eligible companies can generate Tax credits by opting to give up a portion of their losses from Greenfields mineral exploration expenditure.

To participate you need to notify the ATO of the following items by providing estimates for the income year for which you are applying to participate:

  • Greenfields minerals expenditure
  • Tax loss
  • Corporate Tax rate that applies to you
  • Amount of capital you intend on raising

    • The total JMEI application for FY2024 is capped at $25 million, and applications are assessed on a first come, first served basis, so having an application prepared as soon as possible is essential to be considered for the credits.

    Should you require assistance with participating in the JMEI allocation, please do not hesitate to contact your trusted Hall Chadwick advisor.