•1 min read•from TechCrunch
Australia forces Big Tech firms to pay for news or face a 2.25% tax
Our take
Australia has implemented a new policy requiring Big Tech companies to compensate news outlets for their content or face a 2.25% tax on their revenue. The more agreements these platforms establish with media organizations, the lower their tax rate can drop, potentially reaching an effective rate of 1.5%. This initiative aims to reinvest A$200 million to A$250 million back into Australian journalism, fostering a sustainable media landscape while ensuring that digital platforms contribute to the news ecosystem they rely on for content.
The more deals platforms make with media outlets, the less they pay. If enough agreements go through, that effective rate drops to 1.5%, which could generate between A$200 million and A$250 million back into Australian journalism.
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