Posted 11/21/2023, 9:50:43 PM
News Organizations Get $129M Tax Credit Boost to Support Journalism
- $129 million boost for eligible news organizations through increased tax credit, allowing them to claim up to $29,750 per journalist
- Tax credit extended retroactively - news groups can claim higher rates for employing journalists from Jan 1, 2022
- Tax credit rate rises from 25% to 35% for 4 years before returning to 25% in 2027
- Part of ongoing efforts by government to support local news organizations and journalism
- Comes amid tensions with tech giants like Google over Online News Act requiring them to pay news publishers for content