text: Aimed to attract and support investment into the resources sector, this scheme provides eligible investors who invest new equity capital in greenfield exploration companies with an upfront refundable tax credit – enabling eligible investors to effectively receive a flow through tax credit for the company’s exploration spend.
  With the Resources industry employing over 260,000 people in Australia, this is an opportunity to support exploration, the mining sector’s growth and provide new opportunities for its workers. We know smaller exploration companies are a large proportion of the sector, and particularly focused on new kinds of resources – such as Rare Earth minerals, which are used in electronic components.
  For investors, it provides an opportunity to leverage increasing global demand for minerals with a reduced upfront cost and helps explorers differentiate themselves in the competition for equity capital.
  This complements the Government’s renewed focus on the resources sector as an important lever in our future economy.
  Organisations will need to apply for an allocation of credits to take advantage of the JMEI. Dates are yet to be announced by the Government, but allocations will be on a first come, first serve basis until the annual cap is reached.
  To prepare for the JMEI, we recommend compiling the relevant information now, including:
  - greenfields minerals expenditure
  - tax loss
  - corporate tax rate that applies to you
  - amount of capital you intend raising