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Lower incomes exempt from health-care levy
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5 f$ c6 B+ U# r6 Q6 }# K: WHowever, 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.# M d% a' D. ~$ L- z
& l/ [* `5 [2 y$ R# B Q, u& iPeople who make under $50,000 a year in taxable income will be exempt.# H0 P" v( `8 S3 C$ Z$ G
- h( l3 o& e6 r, P V$ H- ?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 $130,000 a year. The payments will be deducted from people’s paycheques and will not be paid by employers.: f0 X' J* g( z9 |5 j' m$ {
k; ^2 B' w8 Y4 T8 [: X7 xBy 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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! V/ `6 |- {( I! F7 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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