Australia’s junior exploration incentive Bill passes through Senate

Junior explorers have welcomed the passage of the Treasury Laws Amendment (Junior Minerals Exploration Incentive) Bill 2017 through the Senate, with the Association of Mining and Exploration Companies (Amec) saying it was an important amendment to the tax law to support junior explorers and encourage private investment into greenfields exploration across Australia.

 The Junior Minerals Exploration Incentive (JMEI) is a tax credit arrangement, which allows mineral exploration companies that have no mining income, to renounce and pass future tax deductions to their Australian resident investors.