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Howard Announces Tax Breaks For Aged Workers

Prime Minister John Howard has announced a policy to provide tax breaks for mature age workers.

Howard said a re-elected coalition government would introduced a Mature Age Worker Tax Offset. The offset will be available to people over the age of 55 and will provide a maximum annual rebate of $500 on their earned income.

The offset would take effect from the start of the current 2004-05 financial year.

Howard said 750,000 mature age Australian workers would benefit from the initiative, at a cost of $1.039 billion.

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Malcolm Farnsworth
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