The Quebec government will be helping out struggling print media outlets with a new tax credit to support their digital transformation, the Montreal Gazette reports.
The measure, announced in Tuesday’s budget plan, would cost $64.7 million over five years, with most of that money coming as of 2020-21.
The refundable 35 per cent tax credit will be open to print media at least a year old that “produce, in Quebec, original, written informational content of general interest” daily or at least 10 times per year, “aimed specifically at the Quebec public.” The credit will apply to employee salaries, consultant fees, and acquisition of digital equipment and technology for “the development of the digital media offering and business intelligence.”
Employees must spend at least 75 per cent of their time “doing or directly supervising work” related to the digital transition.
