Income Tax Act — I-3.3 125.6
nt determined by the formula 0.35 × A + 0.25 × B − C where A is the amount determined by the formula D × E ÷ F where D is the total of all amounts each of which is a qualifying labour expenditure of the qualifying journalism organization for the year in respect of an eligible newsroom employee, E is the number of days in the taxation year that are before 2027 during which the taxpayer is a qualifying journalism organization, and F is the number of days in the taxation year during which the taxpayer is a qualifying journalism organization, B is the amount determined by the formula G × H ÷ I where G is the total of all amounts each of which is a qualifying labour expenditure of the qualifying journalism organization for the year in respect of an eligible newsroom employee, H is the number of days in the taxation year that are after 2026 during which the taxpayer is a qualifying journalism organization, and I is the number of days in the taxation year during which the taxpayer is a qualifying journalism organization, and C is the amount received by the taxpayer from the Aid to Publishers component of the Canada Periodical Fund in the year; and (d) if the year begins after 2026, an amount determined by the formula 0.25 × A − B where A is the total of all amounts each of which is a qualifying labour expenditure of the qualifying journalism organization for the year in respect of an eligible newsroom employee, and B is the amount received by the taxpayer from the Aid to Publishers component of the Canada Periodical Fund in the year. Partnership — tax credit (2.1) If a taxpayer (other than a partnership) is a member of a partnership (other than a specified member of the partnership) at the end of a fiscal period of the partnership that ends in a taxation year of the taxpayer, the partnership is a qualifying journalism organization at any time in that fiscal period and the partnership files an information return in prescribed form containing prescribed information for that fiscal period, then the taxpayer is deemed to have, on the taxpayer’s balance-due day for the taxation year, paid on account of the taxpayer’s tax payable under this Part for the taxation year (a) if the fiscal period begins before 2023 and ends after 2022, an amount determined by the formula (0.25 × A + 0.35 × B − C) × D ÷ E where A is the total of all amounts each of which is a low threshold qualifying labour expenditure of the qualifying journalism organization for the fiscal period in respect of an eligible newsroom employee, B is the total of all amounts each of which is a qualifying labour expenditure of the qualifying journalism organization for the fiscal period in respect of an eligible newsroom employee, C is the amount received by the qualifying journalism organization from the Aid to Publishers component of the Canada Periodical Fund in the fiscal period, D is the specified proportion of the taxpayer for the fiscal period, and E is the total of all specified proportions of members of the partnership for the fiscal period, other than members that are partnerships or specified members of the partnership; (b) if the fiscal period begins after 2022 and ends before 2027, an amount determined by the formula (0.35 × A − B) × C ÷ D where A is the total of all amounts each of which is a qualifying labour expenditure of the qualifying journalism organization for the fiscal period in respect of an eligible newsroom employee, B is the amount received by the qualifying journalism organization from the Aid to Publishers component of the Canada Periodical Fund in the fiscal period, C is the specified proportion of the taxpayer for the fiscal period, and D is the total of all specified proportions of members of the partnership for the fiscal period, other than members that are partnerships or specified members of the partnership; (c) if the fiscal period begins before 2027 and ends after 2026, an amount determined by the formula (0.35 × A + 0.25 × B − C) × D ÷ E where A