Non-Refundable Tax Credit for Subscriptions to Canadian Digital News Media
To support Canadian digital news media organizations in achieving a more financially sustainable business model, the government introduced a new temporary, non-refundable 15-per-cent tax credit for qualifying subscribers of eligible digital news media.
This is a temporary, non-refundable 15-per-cent tax credit on amounts paid by individuals for eligible digital news subscriptions. This will allow individuals to claim up to $500 in costs paid towards eligible digital subscriptions in a taxation year, for a maximum tax credit of $75 annually. In the case of combined digital and newsprint subscriptions, individuals will be limited to claiming the cost of a stand-alone digital subscription.
Eligible digital subscriptions are those that entitle a taxpayer to access content provided in a digital form by a qualified Canadian journalism organization that is primarily engaged in the production of written content. A subscription with a QCJO carrying on a broadcasting undertaking (as defined in the Broadcasting Act) will not qualify for this credit.
Amounts paid to an organization will be eligible only if, at the time they are paid, the organization is a QCJO. If an organization ceases to qualify as a QCJO, that will not cause amounts paid by individuals for subscriptions prior to the loss of QCJO status to cease to qualify for the credit.
This credit will be available in respect of eligible amounts paid after 2019 and before 2025.