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Albanese's New Tax on Tech Giants to Fund Aussie Journalism
Description
Australias Prime Minister Anthony Albanese unveils a draft plan to impose a 2.5% levy on Google, Meta, and TikToks local revenues, aiming to compel these tech giants to contribute to news content or directly fund Australian journalism. Platforms can avoid the tax by securing new deals with publishers, which come with substantial incentives. This initiative targets platforms generating over AUD 250 million annually in Australia, following Metas evasion of the previous news media bargaining code. The move is expected to face resistance, potentially from U.S. President Donald Trump, and prioritizes outlets hiring local journalists and multicultural publishers. The government plans to introduce the bill during parliaments winter session to secure partnerships that ensure quality news for all Australians.
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