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  TAX - I to ZOffsets/Rebates-Not RefundableMature Age Worker Tax Offset      Saturday, 17 April 2021  

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Mature Age Worker Tax Offset


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Not refundable.  This Offset can be used to reduce tax payable, but is not refundable, nor is it available to offset the Medicare levy.

 

   
Abolished from 1 July 2014
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Abolishing tax offsets
From 1 July 2014, the Mature Age Worker Tax Offset (MAWTO) was abolished.


   
Change from 1 July 2012

The mature age worker offset will be phased out for people born on or after 1 July 1957.  This means it will continue to be available only to anyone aged 55 or over on 30 June 2012. 

 

Refer to the link below for more details.



   
Eligibility & Rate

Eligibility

 

To be eligible for the mature age worker tax offset you must:

 

> be an Australian resident for tax purposes

 

> be aged 55 years or more at the end of the income year, and

 

> have received net income from working within the limits below.

 

Note:

 

Eligibility to the Mature Age Worker Tax Offset is not reduced if you also earn other income which is not ‘income from working.’

 

Refer to the links below to see what is included in ‘income from working.’

 

 

2005/2006 & Future Years

 

If your net income from working is ...

Your tax offset is ...

Less than $10,000

Calculated at 5 cents per dollar from $0 to $9,999

Between $10,000 and $53,000

$500

More than $53,000 but less than $63,000

Reduced by 5 cents per dollar over $53,000

$63,000 and above

Nil

 

 

2004/2005

 

If your net income from working is ...

Your tax offset is ...

Less than $10,000

Calculated at 5 cents per dollar from $0 to $9,999

Between $10,000 and $48,000

$500

More than $48,000 but less than $58,000

Reduced by 5 cents per dollar over $48,000

$58,000 and above

Nil

 


This page was last modified on 28 December 2020

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