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Lower incomes exempt from health-care levy9 ?% S) ]1 X* z! I/ p+ _, {
; H3 `% h9 i+ C+ J$ jHowever, 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.1 ^/ Y0 U% J; X8 C; f! v: K2 A
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People who make under $50,000 a year in taxable income will be exempt.( ^# Q0 q5 A9 v: i" g8 n8 q
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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.+ t7 a4 Y0 S( ^. O" x1 v. v" b
2 { C9 G( }8 \3 X! kBy 2016-17, the first year the levy will be in place for the entire year, government will take in $530 million.) P9 y- H& ^; `' H
1 k4 K# U) _# Y! ^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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