Giant American companies such as Google, Facebook, YouTube and many others are sucking the lifeblood out of Canada's media economy – threatening the very future of our local TV, newspapers and radio stations – even hurting the CBC.
A loophole in Canada's tax system is actually making this happen.
Many years ago, Ottawa closed a loophole to prevent advertisers from deducting from their taxes the cost of ads purchased in US print and broadcast media.
Ottawa must close the same loophole so that ads aimed at Canadians on American online media are no longer legitimate tax-deductible business expenses.
An expert study commissioned by FRIENDS has determined that this move will inject $400 million new dollars into quality journalism and Canadian stories on Canadian media!
FOR THE HEALTH OF OUR DEMOCRACY, PLEASE SIGN THIS PETITION TO CLOSE THE TAX LOOPHOLE THAT CAN SAVE LOCAL MEDIA.