The Junior Mineral Exploration Tax Credit (JMETC) is an incentive for shareholders investing in greenfield exploration companies who undertake new capital raisings.
The key benefit is the ability for certain companies who undertake greenfield exploration to renounce their losses and instead pass future tax deductions to Australian resident investors.
Alternatively companies can choose to retain their tax losses for utilisation when they make profits from a successful mine.
The JMETC was announced by the government on 2 September 2017 and will be operational for four years, with effect from the current income year.
The JMETC will be capped at $100m and will be available on a first in first served basis.
so this is currently with the senate.... is this not just going to create huge amounts of spin off projects and endless CR raising, no doubt aimed at insto's?
