Do you subscribe to a digital news subscription? If so, you could be eligible for a tax credit!
In 2019, CRA rolled out a “digital news subscription tax credit” which, according to the CRA website, is: a non-refundable tax credit for amounts paid by individuals to a qualified Canadian journalism organization (QCJO) for qualifying subscription expenses after 2019 and before 2025.
This digital news tax credit is applicable for up to $500 worth of subscription fees for digital news outlets. While you can only use it to save up to $75, it’s still worth applying for on your next return. Every penny counts!
For more information on eligible subscriptions and for more information on this tax credit: CRA Link
Canada Revenue Agency. CRA. Tax Credit. Accountant. CPA