Senior Australian Tax Offset

Q. Frederick
I am a 62 years old male. As such, I am not pension age. My wife will be over 63.5 years by next June. As such, she will reach pension age. Because I am working, she will not receive a pension. However, there is a tax rebate for Senior Australians. Because my wife is not eaning money, her Senior Australian tax rebate cannot be used. But, this unused amount is normally transferrable to the spouse. However, because I am not at pensioner age, I am not sure if I can use my wife’s unused Senior Australian rebate. Will you be able to answer this question please?

A.We’ve sought an answer from the ATO who inform us that both parties must be eligible for the Senior Australian Tax Offset, i.e. both of pensionable age, before the unused portion can be transferred.

Below is a link to some more information from the ATO’s website.