The Government announced in the 2012-13 Budget that it would phase out the mature age worker tax offset (MAWTO).
The 2012-13 Budget measure will phase out the MAWTO from 1 July 2012 for taxpayers born on or after 1 July 1957. Those currently eligible because they were aged 55 years or older on 30 June 2012 are unaffected by the changes and remain age eligible.
Exposure draft legislation and explanatory material which would implement the announced change has been released for public comment.