Canadian Prime Minister Justin Trudeau’s Government Will Extend $595 Million In Tax Relief Over A Five-year Period To News Media Outlets It Defines As “eligible,” According To The Toronto Star.
The tax relief will include tax breaks for consumers who purchase subscriptions from news media outlets, refundable tax credits for news media outlets’ operational costs, and the extension of charitable status to non-profit news media organizations; registered charities with the Canada Revenue Agency (CRA) can issue charitable receipts to donors and benefactors for donations.
Eligibility will be determined by the government and government-established panels. Details regarding such determinations were not provided.
Canada’s Finance Minister Bill Morneau said, “We’ve made some investments to ensure that we continue that we have an important free press to ensure that we have a strong and healthy democracy. … To protect the vital role that independent news media play in our democracy and in our communities, we will be introducing measures to help support journalism in Canada.”- READ MORE