News Media Canada is pleased to inform you that Bill C-97 has been adopted and received royal assent.
This means that the refundable labour tax credit for qualified news organizations will apply to salary or wages earned in respect of a period on or after January 1, 2019.
The new qualified donnee status for qualified journalism organizations will apply as of January 1, 2020, and the new personal income tax credit for digital subscriptions will be available in respect of eligible amounts paid (for digital subscriptions, qualified journalism organizations) after 2019 and before 2025.
An independent panel has been established to consider eligibility criteria for the purposes of these measures. Also, an independent administrative body will be responsible for recognizing journalism organizations as being eligible for these measures.