The creation of the Mature Age Participation – Job Seeker Assistance program will cost $26 million and will aim to provide practical help for job seekers aged 55 and over. This will focus on designated areas or industries so job seekers are ready when a job becomes available. The program will also provide up to $500 per participant to purchase the things they need to get them ready for work, such as home internet connection and hardware or software to help them search for work
Through the National Workforce Development Fund the Government will work with industry to promote up-skilling and re-skilling of mature age workers.
These measures are in addition to the $1000 Job Bonus provided to employers who recruit older job seekers.
Also, the Corporate Champions program will be extended at a cost of $15.6 million. Corporate Champions promote the employment of older workers in their companies.
However, the Mature Aged Worker Tax Offset (MAWTO) will be phased out to fund some of these additional measures. The MAWTO will be maintained for those who are 55 or older on 1 July 2012, as those already receiving the offset have factored this in to household budgets.