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  • Junior Minerals Exploration Incentive opening for 2020–21 income year

    The opportunity to participate in the fourth year of the Junior Minerals Exploration Incentive (JMEI) is fast approaching with applications open from 9:00am (AEST) 1 June 2020 until 11.59pm AEST 30 June 2020.

    The Income Tax Assessment Amendment (Exploration for Minerals) Regulations 2020 has added $5 million in unused exploration credits from the 2017–18 income year to the exploration credits available for the 2020–21 income year, increasing the available cap to $35 million.

    How to participate

    If you wish to participate in the fourth year of the Junior Minerals Exploration Incentive (JMEI) for the 2020–21 income year, complete the junior minerals exploration incentive participation form and lodge it through the Business Portal or Tax Agent Portal.

    Participation forms are considered, and the exploration credits are allocated, on a first come, first served basis until the annual cap for the income year has been reached. Participation forms lodged before the application period opens, or those received after the application period closes, will not be considered.

    Prior to lodging your application for the 2020–21 income year, please ensure that any outstanding ‘Notification of the issue or expiry of exploration credits’ forms have been lodged with us.

    See also:

    Last modified: 21 May 2020QC 62698