Canadian Journalism Labour Tax Credit 2024 – Good News! Annual Labour Cost limit increased from $55,000 to $85,000 per employee
The Canadian government has boosted the Canadian Journalism Labour Tax Credit for 2024, increasing the annual labour cost limit from $55,000 to $85,000 per employee and temporarily raising the tax credit rate to 35%. These changes aim to support struggling news organizations by helping cover labour costs, ensuring the continued production of quality journalism across Canada.
