The Government has announced that it will provide small exploration companies with a refundable tax offset for “greenfields” exploration costs under the “Exploration Development Incentive” program to fund exploration for new mineral deposits. The “Incentive” program will target junior exploration companies and will be capped at id=”mce_marker”00m.

Date of effect – The “Incentive” program will commence on 1 July 2014.

Source: Minister for Industry, 13 May 2014

[WTB 20, 13/5/14]