Payroll Rebate Approved

first_img Information on NSBI transactions can be found at www.novascotiabusiness.com/fundingdisclosures. -30- Nova Scotia Business Inc. (NSBI) has approved a business development incentive in the form of a payroll rebate for Pepper Services (Canada) Ltd. or Pepper Group. Pepper Group, a residential mortgage, consumer lender and loan servicer, based in Sydney, Australia, has the potential to create up to a maximum of 200 jobs in the expansion of its Global Shared Service Centre in Halifax. Based on the maximum growth forecast of the five-year payroll rebate agreement, NSBI estimates the company would spend $56,500,000 in salaries. It is estimated the new employees would contribute provincial tax revenues of $8,045,000 through their income and consumption taxes. As a result, Pepper Group would earn up to $4,955,000 over five years. Pepper Group would be eligible for a smaller rebate if it creates fewer than 200 new jobs. Pepper Group offers a unique, diversified, global portfolio of financial services. It provides specialist experience in core disciplines of Lending, Advisory and Asset Servicing across the residential and commercial property sectors – as well as in consumer, auto and equipment finance with over $52.4 billion in assets under management as at 31 December 2016 – comprising $7.0 billion in lending assets and a servicing portfolio of $45.4 billion Pepper Group has about 1,800 employees in its offices located across Australasia, Asia and Europe For more information on Pepper Group visit www.peppergroup.com.au payroll rebates are designed in a way that the tax revenue generated for the province by the new jobs in Nova Scotia is always more than the amount spent on the rebate payroll rebates are only paid after a business has generated actual payroll for the Nova Scotia economy for every dollar a company spends on the new jobs, it receives between five and 10 cents back when a company submits an annual rebate claim, it must send NSBI audited information that confirms the number of jobs it created that year payroll rebates are paid through the Strategic Investment Fundscenter_img Quick facts:last_img

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