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Lower incomes exempt from health-care levy0 K" E) e! x- z5 q1 m* e
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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 d/ K% s7 l3 N3 j& p5 \# j% f
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People who make under $50,000 a year in taxable income will be exempt.* p' E8 m9 ~2 W8 o* S2 o
5 l9 ?; r6 N: X$ YFor 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.( C# |0 F, t6 o* H: v0 I* n6 Q% r& m
/ J0 F: `' k x! lBy 2016-17, the first year the levy will be in place for the entire year, government will take in $530 million.- h, F* Q5 A2 y# p q
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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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