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  • Notification of the issue or expiry of exploration credits – form and instructions

    Entities participating in the Junior Minerals Exploration Incentive (JMEI) must notify us of the amount of exploration credits that have issued or expired in an income year.

    If you participated in the JMEI you must complete all details of this form.

    Note: When we refer to you, or your company, or taxpayer, we are referring either to you as a business entity (the company) or to you as the public officer responsible for completing the Notification of the issue or expiry of exploration credits form.

    These instructions are not a guide to income tax law. If they do not fully cover your circumstances, you can contact us at JMEI@ato.gov.au or your registered tax adviser.

    Next step:

    Before completing your form

    This form may be completed online and printed, however the information you input into the form cannot be saved to your computer.

    Note: do not use correction fluid or tape to make corrections. If you make a mistake, make your corrections electronically and print a new copy.

    When you have completed this form, print a copy for your own records and lodge it with us.

    Completing this form

    Specify the income year to which this form relates

    Insert the income year to which the form you are lodging relates.

    If this is an amendment to a previous notification provide the amendment number

    Type a number into this section only if you are amending an earlier lodgement of this form.

    Section A: Entity details

    1. Enter the tax file number (TFN) of your entity. We are authorised by the Taxation Administration Act 1953 to request you to quote your TFN. It is not an offence not to quote your TFN, but not quoting it can delay processing of the schedule
    2. Enter the Australian business number (ABN) of your entity
    3. Enter the name of your entity

    Section B: Junior Minerals Exploration Inventive Details

    1. Enter the amount of your actual amount of greenfields exploration expenditure you incurred in the income year to which this form relates in whole dollars.
    2. Enter the actual amount of the tax loss you incurred for the income year to which this form relates in whole dollars.
    3. Enter the actual corporate tax rate that applied to you for the income year to which this form relates.
    4. Enter the actual amount of capital you raised for the income year to which this form relates in whole dollars.
    5. Enter the maximum amount of exploration credits you were able to distribute for the income year to which this form relates as worked out in accordance with section 418-85 of the Income Tax Assessment Act 1997.
    6. Enter the amount of exploration credits that you were able to distribute during the income year to which this form relates which carried over from the immediately preceding income year.
    7. Enter the amount of exploration credits you created for the income year to which this form relates.
    8. Enter the amount of exploration credits that you were able to create during the income year to which this form relates which carried over from the immediately preceding income year.
    9. Enter the amount of exploration credits you issued during the income year to which this form relates.
    10. Enter the amount of exploration credits that you issued during the income year to which this form relates which carried over from the immediately preceding income year.
    11. Enter the amount of exploration credits that have expired for the income year to which this form relates in accordance with section 418-125 of the Income Tax Assessment Act 1997.
    12. Enter the amount of exploration credits that have expired during the income year to which this form relates which carried over from the immediately preceding income year in accordance with section 418-125 of the Income Tax Assessment Act 1997.

    See also:

    Section C: Declaration

    You will then need to include in the declaration:

    • name and daytime telephone number of the authorised person signing the form
    • position held of the authorised person signing the form
    • registered tax agent number, if applicable, of the person signing the form
    • authorised person’s signature
    • date the form was signed, and place a cross at the appropriate declaration statement applicable to the circumstances of the authorised person.

    Signing this form

    When the form is completed and printed, the authorised person for the company must sign the form. Signing the form means that a declaration has been made that the information contained in the schedule and in any attached documents is true and correct.

    Note: penalties may apply for false or misleading statements.

    Lodging this form

    The lodgment due date of this form is dependent on the type of entity you are:

    • investment bodies for Part IVA investments need to lodge this form on – or before – the time your AIIR is due for the income year which corresponds with the year immediately following the credit year
    • all other entities, need to lodge this form at the time – or before the due date for – the lodgment of the income tax return for the income year that immediately follows the credit year.

    The dates in the above table are linked to the financial year which corresponds to the income year to ensure that the timing is consistent for all taxpayers, including those with substituted accounting periods. This ensures that all applicants apply in the same period to provide a consistent outcome in recognition of the priority given to early applications.

    How to lodge this form

    Make a copy of your JMEI form for your own records. You can lodge it

    • by mail to

    Australian Taxation Office
    PO Box 3130
    Penrith  NSW  2740

    • by fax to 1300 730 298 – do not include a header or cover sheet as this will delay processing.
    • online
      • sign in to Business portal
      • navigate to mail
      • select ‘New message’
      • Select 'Exploration Incentives'
      • Select 'JMEI lodgment'.
       

    Remember to attach a copy of the form in the mail message

    Last modified: 26 Mar 2018QC 54865