Mining exploration company, Marmota (ASX:MEU):
has been successful in its application to participate in the Federal Government’s Junior Minerals Exploration Incentive (JMEI) program …
How much do they get?
The Commissioner of Taxation has allocated $951,000 in JMEI tax credits …
Today I learned the JMEI program exists — kind of like a specialist franking credit — worth $100 million over four years to 2025.
In the event that there is no tax liability to offset, then the tax credits are issued as a tax refund by the Tax Office.