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Lower incomes exempt from health-care levy u# ^; s; @) f; d& f
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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./ R4 Q# @$ f0 e! H0 l8 R
~9 ?( A$ A& i, |+ s4 h" TPeople who make under $50,000 a year in taxable income will be exempt.
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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. I0 P( y8 s i
l6 G4 @4 K- P" Y: b! YBy 2016-17, the first year the levy will be in place for the entire year, government will take in $530 million.2 r0 C+ ]/ N* C
' f. K) M3 P( X6 F3 n: ^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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