CRA 2021 Update: Don’t Forget to Claim the $500 Digital News Tax Credit!

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Before the disorder that is COVID-19 occurred, Canada’s media industry was already in trouble. A large group of media outlets wrote Prime Minister Justin Trudeau in February 2020 to plea for long-demanded tax and regulatory changes. The letter sought to draw attention to grave concerns on the future of the country’s once-vibrant media ecosystem.

Apart from copyright protection and the need to beef up competition regulations, the group wants modifications to tax rules for digital companies. Such moves are necessary due to the changing digital landscape that continue to disrupt its business models.

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Original Article Source Credits:   The Motley Fool , https://www.fool.ca/

Article Written By:  Christopher Liew, CFA 

Original Article Posted on:   January 4, 2021 

Link to Original Article:  https://www.fool.ca/2021/01/04/cra-2021-update-dont-forget-to-claim-the-500-digital-news-tax-credit/

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