Mr Taxman
Change the way you feel about taxes.
Get informed and discover what the taxman doesn't want you to know.
Sharing it with Australia, Mr Taxman is a regular Woman’s Day columist and TV finance commentator
  • click to visit Mr Taxman on Twitter
  • click to visit Mr Taxman on FaceBook
  • rss

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

Media Availability

Are you interested in booking Mr Taxman for a speaking engagement or requesting his viewpoints for an article?

comments-rhsLatest Comments

  • "Santander financial services is a successful finance brokerage, offering specially designed finance packages to clients worldwide, contact us via email: santander4service@aol.com to submit your..."

    By: Santander financial services at Apr 06, 2020 5:53PM

    Post: Claiming car expenses

  • "A really interesting question Mel. Whilst negative gearing of a rental property is great for the higher earning spouse as there is a nice tax deduction which comes back to them, it comes to bite..."

    By: Mr Taxman at Mar 04, 2020 9:36PM

    Post: Marriage

  • "Your refund is your asset. It would be up to the courts to determine if you have to share your assets when you settle your split."

    By: Mr Taxman at Mar 04, 2020 9:28PM

    Post: Marriage

  • "Sorry to hear Emma. Generally speaking when it comes to completing your income tax return and including spouse details, a spouse includes another person who: * you were in a relationship with that..."

    By: Mr Taxman at Mar 04, 2020 9:22PM

    Post: Marriage

  • "Admittedly not too much depreciation with a 2011 car but there will still be a few $$$ there still. My motto is that you would pick up $20 if it was on the ground so why not claim it in your tax..."

    By: Mr Taxman at Mar 04, 2020 8:59PM

    Post: Claiming car expenses