#1 out of 124.74%
business16h ago
Google, Meta and TikTok face new levy to pay for Australian news as Albanese reveals media plan
Theguardian.com and 2 more
- Platforms including Google, Meta and TikTok will be required to strike commercial deals with Australian media outlets or pay a 2.25% levy on local revenues.
- If platforms and media outlets agree on new deals, offsets of between 150% and 170% would be applied to their liabilities under the NBI, saving them from paying the new levy.
- The model closes a loophole by making payment the cheaper option, nudging platforms to strike deals rather than pay the levy alone.
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