The Public Interest Journalism Initiative has released today our next tax investigation for the news media industry – the Guidebook to implement and claim a Public Interest Journalism Tax Rebate.
PIJI’s ongoing research into taxation models follows the ACCC’s Digital Platforms Inquiry 2019 recommendation of taxation incentives to support public interest journalism, given its utility as a public good.
PIJI is investigating three areas of taxation reform for public interest journalism:
- Industry tax rebates for public interest journalism producers
- Philanthropic tax incentives (such as deductible gift recipient status)
- Commercial investment tax incentives
This report outlines an industry scheme, similar to the R&D model used in Australia and a number of other countries, designed to offset the cost of journalism to encourage more news activity that generates public benefit.
Our modelling suggests that a 50% tax rebate (the highest scenario) could deliver up to $711 million in public benefit from increased Australian public interest journalism at a $375 million cost to taxpayers.
You can find a summary of the report’s key findings in today’s Australian Financial Review, an article by PIJI Chair Professor Allan Fels AO in The Conversation or read the complete report here.
About The Public Interest Journalism Initiative
The Public Interest Journalism Initiative was established to ensure Australia develops a sustainable ecosystem of independent, pluralistic journalism. We are a non-partisan organisation conducting research, developing policy solutions and building a public conversation on the importance of this issue.
PIJI’s work is guided by its core principles of public interest, neutrality, independence, a diversity of voices and duration.