News release

Payroll Rebate Approved

Nova Scotia Business Inc. (NSBI) has approved a business development incentive in the form of a payroll rebate for Entreprise Castle Hall Alternatives, Inc. (Castle Hall), headquartered in Montreal, PQ.

Castle Hall is a provider of operational due diligence to the investment industry with the potential to create up to a maximum of 40 new jobs under the payroll rebate agreement. Based on the maximum growth forecast of the five-year payroll rebate agreement, NSBI estimates Castle Hall could spend $4.9 million in salaries.

The new employees are expected to pay provincial, personal income taxes of about $507,958. That will result in Castle Hall earning up to $313,200 through the rebate agreement. Castle Hall would receive a smaller rebate if it creates fewer than 40 new jobs.

Quick facts:

  • 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 Funds

Information on NSBI transactions can be found at http://www.novascotiabusiness.com/fundingdisclosures .

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Media Contacts:

Mel Rusinak
Nova Scotia Business Inc. 902-424-6390 Email:
Dagan Sorensen
Castle Hall 902-429-8880 ext. 234 Email: