Government of Western Australia Official Site


Prime Minister Introduces $100 Million Tax Plan to Boost WA Mining

Prime Minister Malcolm Turnbull has announced a $100 million tax incentive to encourage mineral and resource exploration, in a bid to restart Western Australia’s declining mining sector. The incentive is aimed at helping to subsidise the capital-intensive search for new mineral reserves, with exploration dropping almost 70 per cent in the past five years

The government will enact a “junior mineral exploration tax credit scheme” to boost productivity in the state’s mining sector, Turnbull said at a Liberal Party state conference in Perth.

“It will allow junior exploration companies to generate tax credits and immediately distribute them to investors,” Turnbull said. “It will make investing in these companies much more attractive, and it will help them raise new capital for greenfield exploration.”

The plan is expected to run over the next four years and allow companies to generate tax credits that can be immediately distributed to investors.