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Lower incomes exempt from health-care levy% [/ ?, m1 k' \* C
, o2 O; I0 m% H& R! w! NHowever, 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.* Y; H& I2 n3 ?+ t, r
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People who make under $50,000 a year in taxable income will be exempt.! C5 @, [0 b1 H' L
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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 $130,000 a year. The payments will be deducted from people’s paycheques and will not be paid by employers.! q& m! S% z: t% J
' y2 X$ d+ @% M: hBy 2016-17, the first year the levy will be in place for the entire year, government will take in $530 million.9 C. Q! N! C7 S7 O4 z
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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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