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The EDI, designed to boost exploration expenditure, allows eligible companies to distribute exploration credits to shareholders by converting a portion of their tax losses.聽
Last year 84 companies participated in the first year of the EDI, which may convert $A70.3 million in greenfield exploration expenditure into $21.1 million of exploration credits.
The exploration credit will be capped at $35 million and will be shared between all eligible participants.
The three-year scheme, offered through the Australian Tax Office, is capped at a total of $100 million.
To be eligible, companies must be conducting greenfields exploration on ground with no resource defined and must not be in production.
Companies wishing to participate in the scheme can click and complete the form by September 30.聽
