Canadian news organizations may benefit from new tax credits announced in Canada’s 2018 Fall Economic Update.
The Update, which Finance Canada released on November 21, 2018, announces a new refundable tax credit to support labour costs for qualifying news organizations starting in 2019. The Update also announced a new temporary non-refundable tax credit for qualifying subscribers of certain digital news media, among other measures. In the Update, Finance acknowledges the current challenges of journalism and the news media industry, including small local community media outlets. Finance says that these changes are intended to support Canadian journalism and help news organizations maintain financially sustainable business models.
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