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Lower incomes exempt from health-care levy! I$ ?/ U# X: u4 a- G' c7 \
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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.
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& v# x6 ~/ V0 g. O! D& z( z( hPeople who make under $50,000 a year in taxable income will be exempt.: d, V$ ?9 {! `7 M) ~$ `
. I2 L/ v! I+ n9 U6 L( x7 XFor 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., l. C0 `1 \5 p' f! D
z! K& y; I( @0 O! hBy 2016-17, the first year the levy will be in place for the entire year, government will take in $530 million.* p0 |: S9 F8 F, l0 _; }" O
- }6 N$ t; L7 i# L8 d0 lThe 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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