The Liberal government’s 2024 fiscal update shows that Canadian taxpayers will be doling out up to 35% of mainstream media journalists’ salaries for the next four years, which can be up to $30,000 per employee.
https://thecountersi...lists-salaries/
Liberals expand payroll tax credit for news publishing in fall economic update
The government's statement announced an increase to the Canadian Journalism Tax Credit — a refundable tax credit allowing qualifying news outlets to claim up to 35 per cent of up to $85,000 in salary for a qualified employee
https://nationalpost...economic-update
That’s an increase from the credit’s initial allowance of 25 per cent of up to $55,000 in salary per employee.
First announced in the government’s 2018 fall economic statement and made official in the 2019 federal budget, the tax credit was designed to support print news publishers.
The newly expanded credit will be retroactive to the beginning of 2023, the economic update said. It projects the cost to the federal government will be $129 million over five years.
Edited by Victoria Watcher, 21 November 2023 - 10:23 PM.