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Lower incomes exempt from health-care levy, ]) g# K8 E( U: L
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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.' T% R6 }7 C% ]# C& f' q
& z7 V6 t! X) q; j8 f% v$ TPeople who make under $50,000 a year in taxable income will be exempt.
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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.- @1 i6 o" c) W
0 H- n0 B0 ^% K7 P: i4 j |( m fBy 2016-17, the first year the levy will be in place for the entire year, government will take in $530 million.
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; r' e- ? M5 }3 d# f$ }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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