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Lower incomes exempt from health-care levy" J; o' j1 G2 q; U
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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./ O# u+ e/ g3 l2 S" ^
" V+ y: |) Q- N( O2 u5 g8 G* pPeople who make under $50,000 a year in taxable income will be exempt.# W5 K) i4 F7 C* _
5 d% k) G0 \, a' 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.* d8 G& o2 _2 R0 [- ]+ I. B: \
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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.
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. P. L5 B) D2 T; x( m& G NThe 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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