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July 8, 2020

Digital News Subscription Tax Credit

Digital News Subscription Tax Credit

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

Crystal Cahill

Crystal Cahill is responsible for the social media and marketing at Cahill CPA. Crystal completed her Bachelor of Arts Degree at Simon Fraser University in English, and has an Education Degree and teaching certification. She enjoys keeping clients updated on new accounting practices, upcoming tax deadlines, and news & events within the Cahill CPA office & staff. She is married to Cahill CPA partner Jordan Cahill, and together they have two young children.

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