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Lower incomes exempt from health-care levy
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. N; j2 U! m7 T& w- j) EHowever, 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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People who make under $50,000 a year in taxable income will be exempt.4 P+ l$ d3 I* F( z
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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.3 m( T! z% t8 I* C) W
; Z8 M) v( J8 Q8 R; L5 L' SBy 2016-17, the first year the levy will be in place for the entire year, government will take in $530 million., o; U5 G: _/ e0 O! M+ R* j2 H5 l
" ^. M6 p* a8 E8 ZThe 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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