What is the Digital News Subscription Tax Credit, and how do I claim it?

by TurboTax•1• Updated 1 week ago

For tax years 2020 through 2024, the digital news subscription tax credit (DNSTC) is a non-refundable federal tax credit. To claim this credit, you must have paid for a digital news content subscription to a Qualified Canadian Journalism Organization that's been approved by the CRA

What subscriptions are eligible?

Subscriptions eligible for the DNSTC must provide the subscriber with access to original written digital news content.

Publishers may voluntarily submit a new form, T622 Digital News Subscription Tax Credit - Eligible Subscription, to confirm that they (and the subscriptions they offer) are eligible. This information is published on the CRA’s List of qualifying digital news subscriptions

An organization that has not requested a determination from the CRA won't appear on the list.*

How do I calculate my credit amount?

The amount of your credit is based on the lowest federal personal income tax rate (15%). Multiply 15% by the total of allamounts paid for qualifying subscription expenses in the year, up to $500. Claim the 15% non-refundable credit on your tax return, up to $75.

How do I enter this amount into TurboTax Online?

From the Tax home screen, under Add to your return enter digital, and select Digital news subscription.
At the Digital News Subscription Tax Credit screen, enter the amount of eligible expenses for the year.

How do I enter this amount into TurboTax Download version, EasyStep view?

Make sure you’ve completed the Introduction and Profile sections to unlock From the menu.
Select Deductions & Credits and then Payments profile.
Check the box for Digital News Subscription.
At the Digital news subscription tax credit screen, enter the amount of eligible expenses for the year.