Form T2 Schedule 58 Canadian Journalism Labour Tax Credit (2019 and Later Tax Years) - Canada

Form T2 Schedule 58, the Canadian Journalism Labour Tax Credit, is used to calculate the amount of tax credit that eligible Canadian journalism organizations can claim for certain labour expenditures. This credit is available for the 2019 and later tax years in Canada.

The Form T2 Schedule 58 Canadian Journalism Labour Tax Credit is filed by Canadian corporations that qualify for this tax credit.

FAQ

Q: What is Form T2 Schedule 58?A: Form T2 Schedule 58 is a tax form used in Canada to claim the Canadian Journalism Labour Tax Credit.

Q: What is the Canadian Journalism Labour Tax Credit?A: The Canadian Journalism Labour Tax Credit is a non-refundable tax credit available to qualifying Canadian journalism organizations.

Q: Who can claim the Canadian Journalism Labour Tax Credit?A: Qualifying Canadian journalism organizations can claim the Canadian Journalism Labour Tax Credit.

Q: What are the eligibility criteria for the Canadian Journalism Labour Tax Credit?A: To be eligible for the Canadian Journalism Labour Tax Credit, the organization must meet specific criteria, including being primarily engaged in the production of original written news content and having at least one employee engaged in journalism activities.

Q: How is the Canadian Journalism Labour Tax Credit calculated?A: The Canadian Journalism Labour Tax Credit is calculated based on the eligible labour expenditures of the organization.

Q: Are there any limitations or restrictions to claiming the Canadian Journalism Labour Tax Credit?A: Yes, there are limitations and restrictions to claiming the Canadian Journalism Labour Tax Credit, including limits on the amount that can be claimed per employee and per year.

Q: Which tax years does Form T2 Schedule 58 apply to?A: Form T2 Schedule 58 applies to tax years 2019 and later.