Chapter 8 - Mature age worker tax offset – Parliament of Australia - mature aged workers offset

Category

Tax offsets | Australian Taxation Office mature aged workers offset


We evaluate the employment effects of Australia's Mature Age Worker Tax Offset ( MAWTO) using administrative data from the taxation office.

The Mature Age Worker Tax Offset ("MAWTO").. is set at a maximum of $500 for Australian resident workers over the age of 55 years at 30 June.

1.1. This Bill amends the Income Tax Assessment Act 1997. (ITAA 1997) to phase out the mature age worker tax offset (MAWTO) from 1 July 2012 for taxpayers.

From 1 July 2012, the Mature Age Worker Tax Offset (MAWTO) - like so many others - entered 'phase out' status. 2014 was the last year this.

The Mature Age Worker Tax Offset, of up to $500 for people aged over 55 and still in the workforce, has been scrapped from the 2014/15.