Digital Media Industry to Benefit From Tax Credit

first_imgThe province has introduced a tax credit that will help companies in Nova Scotia develop interactive products like video games and websites. Regulations announced today, Nov. 26, provide specific details on the Nova Scotia Digital Media Tax Credit. “The digital media industry is a creative, growing industry with great potential for our future economy,” said acting Finance Minister Angus MacIsaac. “This tax credit makes us more competitive — it is financial incentive for producers to come to work in Nova Scotia and to hire Nova Scotians.” The credit, originally announced in the budget, is available for interactive digital media products whose primary purpose is to educate, inform or entertain. It is based on 35 per cent of Nova Scotia labour costs or 17.5 per cent of total development costs incurred in Nova Scotia, whichever is less. An additional bonus is available for product development outside Halifax Regional Municipality. Rates of credit and operation of the program are similar to the Film Industry Tax Credit, announced in September. The minister said government intends to increase the credit’s rates to match those of the Film Industry Tax Credit, in the spring. There are several digital media companies in operation in Nova Scotia. Extensive consultation with the industry took place as part of the program design and development of regulations. The credit is effective July 1, 2007. To get the credit, corporations must apply and meet eligibility criteria. Further details can be found at www.gov.ns.ca/finance . Official guidelines and application forms will be available online in January.last_img read more

Scotiabank to pay 300M for 51 stake in Cencosuds Chilean credit card

Scotiabank to pay $300M for 51% stake in Cencosud’s Chilean credit card business by The Canadian Press Posted Jun 20, 2014 4:48 pm MDT AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to RedditRedditShare to 電子郵件Email TORONTO – Scotiabank (TSX:BNS) says it will acquire a 51 per cent interest in the credit card and consumer loans business of Cencosud SA, the largest retailer in Chile, in a deal valued at $300 million.The transaction includes a 15-year partnership between Scotiabank and Cencosud.The financial services arm of Cencosud will continue to operate as a standalone business, with oversight from a board of directors representing the two partner companies.The transaction will make Scotiabank the third-largest credit card supplier in Chile, one of the countries that it has identified as an area of growth.Scotiabank chief executive Brian Porter told shareholders in April that the bank wants to sharpen its focus in Peru, Colombia, Mexico and Chile.Cencosud is a retail conglomerate operating in five countries, including Argentina, Brazil, Peru and Colombia and its financial service arm currently has 2.5 million credit cards with more than US$1.2 billion in Chile.“Scotiabank is excited about this acquisition because it will strengthen our credit card offerings for our customers and attract new customers to the bank,” said Wendy Hannam, Scotiabank’s executive vice-president for Latin America. read more

Glencore awards Mount Isa Black Rock Cave development contract to PYBAR

first_imgSpecialist underground mining contractor PYBAR Mining Services has been awarded a two year contract at the Glencore-owned Mount Isa Mines’ Black Rock Cave underground copper project in Queensland.PYBAR will complete underground decline and level development including primary development, drive stripping and shotcreting for the Black Rock Cave project.The company will employ 43 personnel on site at peak production. Personnel and fleet will be mobilised to site by mid-May.PYBAR CEO Brendan Rouse said: “We have a long history at Mount Isa Mines. The award of Black Rock will expand our existing presence and enhance our ongoing partnership with Glencore and the local community.”last_img read more