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Lower incomes exempt from health-care levy+ S; [. `; L4 F6 T+ {
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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.: W8 g2 ]& y- Z# q1 u& Y& b
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People who make under $50,000 a year in taxable income will be exempt. [, f7 ], ?9 S+ q3 j
4 v: [" Y6 X- u6 s; J/ rFor 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 $130,000 a year. The payments will be deducted from people’s paycheques and will not be paid by employers.& _- m* {9 q2 v8 S5 t: W$ q
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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.- d, d- g' u' ?. n5 M9 d
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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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