Winnipeg Free Press

Winnipeg Free Press (Newspaper) - February 24, 1975, Winnipeg, Manitoba Winnipeg free press monday february 24, 1975 Content rules outlined Ottawa up the Cana Dian editions of time Magazine and Reader s digest will have to be 80-per cent different from their . Parent publications As Well As 75-per cent Canadian owned if they want to be sure of continued survival in the country Revenue minister Ron i Basford said. Or. Basford for the first Lime spelled out what is in effect a Canadian Content quota for the two magazines whose survival is threatened by com ing tax legislation. He said in an interview that time and Reader s digest will be judged by the Revenue department As Canadian if they Are so per cent different in Content from editions published in other countries. If they Are to per cent Dif Ferent or less they will be considered foreign and advertisers will no longer be Able to claim tax deductions for advertising costs he said 1c either Magazine or any of the four newspapers and three Trade publications also affected by the proposed legislation Falls Between the 60-and 80-per cent limits rulings will have to be made in each specific Case or. Basford said. He said tax authorities will also have to decide in each Case whether or not the publication s name and formal Are affected by the requirements. In addition the publications will also have to meet other requirements already set out by state Secretary Hugh Faulkner who last month announced the government s plan to seek removal of special tax status for time and Reader s digest advertisers. These in clude requirements that the publications sell at least 75 per cent of their shares to canadians and agree not to operate under direct licensing arrange ments with Parent companies. The legislation will remove sections of the income tax act which effectively made time Reader s digest and the other smaller magazines and news papers Canadian publications allowing their advertisers claim tax deductions for Adver Tising costs. I the proposed change would substantially increase the Cost of advertising in the publications resulting in the flow of More advertising Money into All Canadian periodicals or. Faulkner said. He said he Hopes the step taken at the urging of some Domestic pub Lishers and a powerful lobby of nationalists will Lead to the establishment of a Canadian weekly news Magazine. Time and Reader s digest executives have made or Are negotiating the Sale of equity to Canadian investors but neither publication is anywhere near meeting the Content requirements. Time with a Domestic circulation of about has four to 10-per-cent Canadian Content in a Magazine of about 100 pages a week. It is a wholly owned subsidiary of time inc. Of new York though officials have sounded out Cana Dian investors about Purchas ing 75-per-cent ownership. Reader s digest with a monthly circulation of about 1.5 million in both English and French has about 25-per-cent Canadian Content and 32-per cent Canadian ownership. Ralph Hancox of Montreal digest vice president said his company was never told of the 80-per-cent formula for judging whether or not a Magazine is Canadian for tax purposes. It will require thorough study be fore any decision is made on trying to meet the require ment he said. Time officials have said they would try to meet the owner ship requirement but could not accept any form of Canadian Content quota. Time officials have complained that they cannot obtain a concise statement from or. Faulkner of what they must do to qualify As a Canadian Public j cation. Or. Faulkner refused i meetings with company exc ii j tics and told them to await the legislation to be introduced soon and to make their appeals when the Bill goes before a parliamentary committee. Time president Stephen s. Larue of Toronto has said the company will suspend Publica i lion of its Canadian edition if the advertiser exemption is lifted next Jan. 1 As planned. Or. Hancox said Reader s digest has made no such decision but that the company will face serious financial losses if the tax privileges arc removed. Executives o f other non Canadian publications say they j Are awaiting the legislation be fore deciding what to do. These include three medical Maga Zinc. Modern Medicine of can. Ada . Of Canada and medi Cal aspects of human sex Ali i to and four newspapers. The newspapers the advocate of weeklies published in the i Fraser Valley of British co a Lumbia arc owned by a British company the Liverpool Posl and Echo. I. 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