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Lower incomes exempt from health-care levy
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1 x S. D' K5 a6 i% O( |However, the government is taking measures to reduce the effects on lower income earners. Unlike the old health premiums that were killed in 2008, the new health-care contribution levy will be assessed according to income., x3 l- r, v- c& f5 ?& N
! n- A; B) s! @5 x, mPeople who make under $50,000 a year in taxable income will be exempt.* I8 i/ _7 l2 Y; Z
1 G' p7 B) s. X5 C/ Q' PFor example, someone earning between $50,000 to $70,000 will pay a maximum of $200 a year. The amount will be capped at $1,000 a year for those earning over $130,000 a year. The payments will be deducted from people’s paycheques and will not be paid by employers.
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3 H, p+ _% K" x9 IBy 2016-17, the first year the levy will be in place for the entire year, government will take in $530 million.% B* K$ I9 k0 S6 K$ `( U
; y1 u! J) y) ~5 \* u+ ]4 pThe government is also introducing the new Alberta working family supplement, which will assist families that earn between $2,760 and $41,220 a year. A working family with one child will be eligible for a maximum credit of $1,100. The supplement will be paid in addition to the Alberta family employment tax credit, which has increased. |
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