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Lower incomes exempt from health-care levy. [2 u& n7 |6 y p& B: R
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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.3 f. w% X M2 \4 X! }( }3 q( C/ X
! K6 I+ M0 e$ G7 {) g' OPeople who make under $50,000 a year in taxable income will be exempt./ `: d- H, {2 @/ o9 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.9 {5 c" A7 ]* l; @7 r
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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.
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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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