Mature age worker tax offset changes in 2012/13

Feb 14, 2013

The mature age worker tax offset (MAWTO) aims to encourage and reward mature age workers who stay in the workforce. The maximum tax offset is $500. On 10 December 2012, changes to the age eligibility rule for the mature age worker tax offset became law.

For 2012-13 and future year returns, taxpayers must have been born before 1 July 1957 to qualify for the offset. The '55 years of age or older' rule will no longer apply.

Eligibility for this offset remains unchanged in all other respects.

The mature age worker tax offset can only reduce your tax liability to nil. Any unused portions cannot be refunded or transferred to another taxpayer. This offset should not be confused with the senior Australians tax offset or the pensioner tax offset. Some people may be eligible for more than one of these.

?

Tags: Accountant SydneyFamilyPersonal tax

Author: Mr Taxman

Comments

"i am a 76 y/old mature age worker ,i have just lodged my y/ending 2015 tax return, i was astonished to be told by hand r block that the mature age rebate is discontinued Plus all medical expenses are in future non allowable is this true"

By: norman on Jul 25, 2015 7:10AM

"I am A 76 y/old male worker with part pension as I work approx 30 hrs pwk I lodged my return as usual today only to be told by my accountant H&R Block that the mature age rebate has been 'dropped as at March/14 'plus there will be no allowance for any medical expenditures in future is this true why was I and and all mature age workers not informed by the ATO this is (if true) deceitful plus to have All medical expenditure non allowable is a ' slap in the face' for ( in particular ) pensioners who rely on that allowance. If the above is true I will Never vote Liberal again and will write to all Media and Current affair programs including Alan Jones 2GB in Sydney 'Liberal Govt can't be trusted'"

By: norman on Jul 25, 2015 7:26AM

Post a New Comment

comments-rhsLatest Comments