Supporting Canadian journalism
A strong and independent news media is crucial to a well-functioning democracy. In recognition of the important role the media play in helping citizens make informed decisions about important issues, the Government introduced three new tax measures for designated qualified Canadian journalism organizations (QCJOs) in Budget 2019:
- the Canadian journalism labour tax credit, a 25% refundable tax credit on salaries or wages payable in respect of an eligible newsroom employee for periods beginning on or after January 1, 2019;
- the digital news subscription tax credit, a 15% non-refundable personal income tax credit for digital news subscriptions paid by an individual to a QCJO, after 2019 and before 2025; and
- a new type of qualified donee called a registered journalism organization for not-for-profit journalism organizations, which is in effect as of January 1, 2020.
Budget 2019 also announced the creation of the Journalism and Written Media Independent Panel of Experts (the Panel) to provide recommendations on the new legislation supporting Canadian journalism. The Panel delivered its report to the Minister of Canadian Heritage and Multiculturalism and the Minister of Finance on July 16, 2019.
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