First, there is a digital news subscription tax credit, running from 2020 through 2024 (though of course it could be extended). This is a 15% credit for subscriptions you pay for, for costs up to $500 per year (i.e., up to $75 total credit per year). The organization must be approved as a “qualified Canadian journalism organization”, meeting certain conditions. The CRA will publish a list of qualifying subscriptions.
Of course, if you’re self-employed in a field where you can justify needing the subscription for business reasons, you’re better to treat the cost as a deductible business expense. But if you can’t do that, a 15% credit does reduce the net cost for you somewhat.
Second, non-profit journalism organizations can effectively qualify as charities for tax purposes. They do not actually become registered charities; instead, a QCJO that meets additional conditions can become a “registered journalism organization” (RJO), which will essentially be treated the same as a charity, and will be exempt from income tax. Most notably, donations to an RJO will qualify for the charitable donation tax credit, typically worth about 40-50% to you (depending on your province of residence), once your total donations exceed $200 per year.
Third, a QCJO that meets certain conditions can receive a tax credit from the government, subsidizing 25% of the organization’s “qualifying labour expenditures” for eligible newsroom employees. The credit is “refundable”, meaning that even if the organization does not make a profit so it pays no tax, the CRA will pay the credit to the organization.