The federal government has allocated $285.3 million over four years from the current financial year to support news and media diversity.
According to MYEFO, the mid year budget update, $44.7 million will also be spent in 2028-29 and $43 million a year after that,.
The money includes $168.5 million over four years from this financial year for the News Media Assistance Program.
The government will also:
- suspend the Commercial Broadcasting Tax for one year, from June 2025 to June 2026, to provide temporary relief for commercial television and radio broadcasters.
- introduce the News Bargaining Incentive to support the sustainability of news and public interest journalism. Funding includes $1.9 million over three years for the Australian Taxation Office to introduce and administer the Incentive, which will apply for income years starting on or after January 1, 2025
- mandate a minimum commitment of $3 million per year for two years from next financial year for regional newspaper advertising across the total annual Commonwealth Government media advertising spend.
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