King River Resources to Participate in JMEI Scheme, Receives Tax Credits

  • Jul 17, 2020 AEST
  • Team Kalkine

The Australian Taxation Office (ATO) has accepted the application of Australian explorer, King River Resources Limited (ASX: KRR) to participate in the JMEI scheme for the 2020/2021 tax year. The JMEI scheme by the Federal Government encourages investment in small minerals exploration companies, carrying out greenfields mineral exploration in Australia. 

KRR has received tax credits of up to $975,000, which can be distributed to eligible shareholders.

Eligible investors must be Australian resident shareholders applying for and are issued new shares in the Company’s capital raising activities between 1 July 2020 and 30 June 2021. All eligible investors will receive JMEI credits on a pro-rata basis.

Eligible shareholders that participate in the Security Purchase Plan and placement investors will be entitled to participate in the JMEI tax credits for the 2020/2021 tax year.

These JMEI credits apply to the income tax assessment of receiving shareholders, for the year ended 30 June 2021.

KRR stock was trading at $0.034, up by 3.03% on 17 July 2020, as at AEST 12:43 PM.


The website is a service of Kalkine Media Pty. Ltd. A.C.N. 629 651 672. The article has been prepared for informational purposes only and is not intended to be used as a complete source of information on any particular company. Kalkine Media does not in any way endorse or recommend individuals, products or services that may be discussed on this site. Our publications are NOT a solicitation or recommendation to buy, sell or hold the stock of the company (or companies) or engage in any investment activity under discussion. We are neither licensed nor qualified to provide investment advice through this platform. All pictures are copyright to their respective owner(s). does not claim ownership of any of the pictures displayed on this website unless stated otherwise. Some of the images used on this website are taken from the web and are believed to be in public domain. We have used reasonable efforts to accredit the source (public domain/CC0 status) to where it was found and indicated it below the image.


Penny stocks have been known to attract investors who are looking for explosive gains and it is possible to get lucky with these typically speculative investments. Just as the name suggests, penny stocks trade at low prices and are common shares of small public companies.

Get an exclusive insight into the features of penny stocks along with their pros and cons. Read about what you should be wary about when figuring out ways to invest in them, so that the possibility for big rewards does not tend to outweigh the risks.

Find out more about penny stock winners from 2019

We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it. OK