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
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If your net income from working is ...
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Your tax offset is ...
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Less than $10,000
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Calculated at 5 cents per dollar from $0 to $9,999
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Between $10,000 and $53,000
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$500
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More than $53,000 but less than $63,000
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Reduced by 5 cents per dollar over $53,000
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$63,000 and above
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Nil
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2004/2005
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If your net income from working is ...
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Your tax offset is ...
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Less than $10,000
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Calculated at 5 cents per dollar from $0 to $9,999
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Between $10,000 and $48,000
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$500
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More than $48,000 but less than $58,000
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Reduced by 5 cents per dollar over $48,000
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$58,000 and above
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Nil
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