The payroll rebate supports companies improving their competitiveness in export markets through productivity improvements or investments in product development, as well as companies locating or expanding in the province.
The payroll rebate is a return (usually between 5%-10%) on a company’s gross payroll taxes. The rebate amount depends on the economic benefit generated to the Province and is generally paid out annually over a term not exceeding five years.
To receive the rebate, you must create or retain a targeted number of jobs, at a minimum determined salary, within a set timeframe, and must also demonstrate it is meeting set targets associated with the coinciding project, including expenditure targets. Payroll rebates are both project and performance-based, and promote employment creation or retention in the province.
Contact NSBI's Business Financing team to learn more about the eligibility and requirements to recieve a payroll rebate.