Hi Folks,
At a glance
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?
- 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.
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Hi Folks, At a glance The Junior Mineral Exploration Tax Credit...
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