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OTTAWA, March 21, 2019 /CNW/ - The Canadian Association of Broadcasters (CAB) is disappointed that the federal government has excluded broadcast media from journalism support tax credits announced in Budget 2019.
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"Canadians want to be informed and they want a diversity of trusted, quality news sources from which to choose," said Lenore Gibson, CAB Board of Directors chair. "The federal government's exclusion of broadcasters — the preferred source for news among Canadians — is arbitrary and unfair policy."
According to the Reuters Institute's 2018 Digital News Report, more than 75 per cent of Canadians get their news from television and radio, while only 31 per cent cite newspapers as their primary source. Further, of the top five most trusted news brands in Canada, three are private broadcasters.
New tax credits for news and journalism were announced in the 2018 Fall Economic Statement. Budget 2019 sets out eligibility criteria. The proposed tax credits would only be made available to newspapers: Qualified Canadian Journalism Organizations (QCJO) must be primarily engaged in the production of original written news content. Moreover, the 25-per-cent refundable labour tax credit is not available for a QCJO "carrying on a broadcasting undertaking."
"If the government is truly committed to recognizing the vital role media plays in helping citizens make informed decisions, it must find a way to include radio and television news outlets in this tax credit regime," said Gibson.
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Background
Nanos polling discovered that Canadians place high value on local news and are concerned about the decline of journalism in Canada :
- More than two-thirds (70%) of Canadians agree their MP should work to keep local broadcasting strong.
- The majority of Canadians (74% agree and 15% somewhat agree) polled say local broadcast news is valuable.
- There would be a significant negative reaction if the broadcasting of local news stopped (72%).
- A majority of respondents (62% agree and 17% somewhat agree) that their local broadcast news contributes to making their community stronger.
The CAB is the national voice of Canada's private broadcasters, representing the vast majority of Canadian programming services, including private radio, television stations and discretionary services.
SOURCE Canadian Association of Broadcasters
View original content to download multimedia: http://www.newswire.ca/en/releases/archive/March2019/21/c7662.html
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.