Getting the sweetner ready....JMEI Tax Credits:St George has...

Getting the sweetner ready....

JMEI Tax Credits:
St George has been successful in its application to participate in the Federal Government’s Junior Minerals
Exploration Incentive (JMEI) program for the new 2022/23 financial year with the Commissioner of Taxation
confirming an allocation of $1,250,000 in JMEI tax credits for that year.
The JMEI tax credits may be distributed by St George to eligible investors as a tax offset. The credits serve to
reduce an eligible investor’s 2022/2023 tax liability (for individual shareholders or superannuation funds) or
as franking credits (for companies).
The JMEI program is an initiative of the Australian Federal Government to encourage investment in
greenfields exploration companies. Eligible investors must be Australian resident shareholders (irrespective
of whether they are individuals, super funds, companies etc) who have applied for and are issued new shares
in a capital raising of ordinary shares which St George has nominated as having the benefit of tax credits.
The new shares must be issued between 1 July 2022 and 30 June 2023. Not all new share issues in that
financial year will be issued with attaching tax credits,only those nominated by the Company as eligible at
the time the share issue is made.