Junior Minerals exploration tax incentive extended
The Junior Minerals Exploration Incentive program provides a tax incentive for investment in junior minerals exploration companies raising capital to fund greenfields exploration activity.
Eligible companies can create exploration credits by giving up a portion of their tax losses relating to exploration expenditure, which can then be distributed to new investors as a refundable tax offset or a franking credit.
The program has been extended for four years from 1 July 2021 to 30 June 2025.
The Government will also make minor legislative amendments to allow unused exploration credits to be redistributed a year earlier than under current settings.