Ottawa boosts journalist tax credit by $501M to give ‘greater stability’

The federal government of Canada has announced an extension of its journalism tax credit by $501 million over five years, with $85 million in ongoing annual funding. This decision comes after the government consulted Canadians and stakeholders about extending the credit to broadcasters. The extension will provide qualifying journalism organizations with a refundable 35-per-cent tax credit on wages for eligible newsroom employees, up to $29,750 per employee, and will now cover the production of audio and audiovisual news.

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