How Much Can You Claim?
You can claim up to $500 per year for amounts paid toward eligible digital news subscriptions.
The tax credit provides a maximum benefit of 15% of your claimed amount, translating into a potential tax reduction of $75.
What Qualifies as an Eligible Subscription?
To qualify, the digital subscription must:
Be for a qualified Canadian journalism organization (QCJO).
Provide access to digital content, such as news articles or media.
Be paid for by you or your spouse/common-law partner.
Ineligible subscriptions include:
Mixed subscriptions where the digital and print components are not separately identified.
Subscriptions to foreign journalism organizations.
Payments for services that do not primarily provide news content.
Who Can Claim the Credit?
You or your spouse/common-law partner can claim the subscription costs, but the total claim cannot exceed $500, even if both partners paid for subscriptions.
How to Claim the Credit
Gather Receipts: Ensure you keep receipts for all eligible digital subscriptions, as the CRA may request documentation.
Verify Eligibility: Check if the provider is a qualified Canadian journalism organization (QCJO).
Enter on Your Tax Return: in CloudTax add the Digital News Tax Credit form.
Why This Matters
The DNSTC supports Canadian journalism while giving taxpayers an opportunity to reduce their taxes. If you regularly subscribe to digital news content, this credit is a great way to offset some of those costs.