On 12 December 2024, the government announced it will establish a news bargaining incentive aimed at ensuring large digital platforms contribute to the sustainability of news and journalism in Australia.
The incentive will include a charge and a non-refundable offset. The incentive will apply to:
- Entities that operate significant social media or search services.
- Entities who together with their related bodies corporate exceed an annual threshold of $250 million gross revenue attributable to Australian markets (exclusive of GST).
The charge element of the incentive will apply to income years commencing on or after 1 January 2025. The charge will apply in addition to corporate income tax and will not be a deductible expense for corporate income tax purposes.
These changes are not yet law. The government will consult on the technical details of the incentive, including the test for application.
For more information, see: