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Lower incomes exempt from health-care levy! H/ T8 ~5 ^$ I9 F5 K
% K5 P4 T7 M! z: E5 m1 LHowever, 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.2 k1 m( h' P% N- e7 m H' g
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People who make under $50,000 a year in taxable income will be exempt.* Y/ x& [ n( O! g
3 j. }4 G: z9 A, g% y( JFor 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 $130,000 a year. The payments will be deducted from people’s paycheques and will not be paid by employers.
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& g |6 _9 k W" P$ O6 c- kBy 2016-17, the first year the levy will be in place for the entire year, government will take in $530 million.; }: R5 f# w7 I) W! S) Q
, U- g# J, m# N9 R( hThe 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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