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Lower incomes exempt from health-care levy$ f( N- e- a1 w& x" p G. X/ Z; s& M" G
3 Q. y" H+ U1 e6 `0 P+ GHowever, 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., E# V4 _ ]0 e) U
& n1 O. ~) i' r3 v8 sPeople who make under $50,000 a year in taxable income will be exempt.; v" ]( w$ @5 ?5 ~) [$ k8 t( |5 R
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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.% m# ^( O4 \8 C. D) m7 t. P
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By 2016-17, the first year the levy will be in place for the entire year, government will take in $530 million.4 H- A; Q/ [$ `4 ^; B7 c- p
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The 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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