A payroll rebate is an earned incentive, paid out yearly after a company achieves pre-determined targets.

The rebate is a return on a company’s eligible gross payroll. It is issued over a set number of years – usually between three and five – and to a set amount. This means that for every dollar a company spends in salaries and benefits, Invest Nova Scotia rebates back a negotiated percentage.

The payroll rebate agreement includes performance targets that a company must achieve in order to receive the rebate, including:

• Number of new positions created
• Average annual salary