Tuesday, April 16, 2019

Canada’s Budget 2019 details journalism tax credit


Canada’s Budget 2019 has details on a journalism tax credit and a subsidy the government is making available to some news publishers. A tax deduction is also available to digital subscribers.
To get the tax incentives, media companies must offer general news coverage and need certification from an independent panel, iPolitics reported.
Under the program, some outlets can get a 25 per cent refundable tax credit on newsroom salaries and provide a 15 per cent tax credit to digital subscribers. Charitable tax incentives for not-for-profit journalism are also in the mix.
According to the 2019 budget, the measures will amount to $45 million in 2019-20 (Canadian dollars) and go up to $165 million in 2023-24.
The budget states that Canadian citizens must own 75 percent of a company for it to qualify.
Broadcasters and publications getting funding from the Canada Periodical Fund aren’t eligible for the tax credit.
The Nieman Lab provides some analysis here.

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