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Lower incomes exempt from health-care levy
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% n% S8 _* G& \5 |& c; SHowever, 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.
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People who make under $50,000 a year in taxable income will be exempt.$ m2 z U+ y; k4 W2 G2 H8 ^0 Z
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For 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 $130,000 a year. The payments will be deducted from people’s paycheques and will not be paid by employers.7 G( {2 D9 _( h+ n( w
/ z f3 P. u9 I$ m2 OBy 2016-17, the first year the levy will be in place for the entire year, government will take in $530 million.- ^' d. U. ^* q% Y& }9 e; Z
) G, x- L% f# W* ]9 H6 DThe 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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