This year will be the last to apply for the Exploration Development Incentive (EDI), a three year scheme offered through the ATO to encourage shareholder investment in small exploration companies undertaking greenfields mineral exploration in Australia.
Under the EDI, companies can distribute exploration credits to equity shareholders by converting a portion of their tax losses to create these credits.
More than 80 companies participated in the first year of the EDI and more than 50 participated in year two.
The final year of the EDI is now open. If you wish to participate, you will need to notify the ATO by 30 September 2017 by completing an EDI Participation form. The exploration credit will be capped at $40million and will be shared between all eligible participants.