Payroll rebate approved for financial services company expansion

An Australian-based financial services company has been approved for a nearly $5 million payroll rebate over five years by Nova Scotia Business Inc. (NSBI).

In a news release, NSBI says Pepper Group has the potential to create up to a maximum of 200 jobs in the expansion of its Global Shared Service Centre in Halifax.

The province says the company would spend $56.5 million in salaries, based on the maximum growth forecast of the five-year payroll rebate agreement, with employees contributing just over $8 million in provincial taxes.

Pepper Group would be eligible for a smaller rebate if it creates fewer than 200 new jobs.