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  • Annual reports – low income superannuation tax offset

    Report from the Commissioner of Taxation under subsection 12(G)(2) of the Superannuation (Government Co-contribution for Low Income Earners) Act 2003 and related regulations on the working of the Act during the period:

    1 July 2020 to 30 June 2021

    The number of beneficiaries of a LISTO entitlement with an Adjusted Taxable Income

    2,402,270

    The number of beneficiaries of a LISTO entitlement with an estimated Adjusted Taxable Income

    258,589

    The total number of beneficiaries of a LISTO entitlement

    2,660,859


    The amount of LISTO entitlements made with an Adjusted Taxable Income

    $634,524,000

    The amount of LISTO entitlements made with an estimated Adjusted Taxable Income

    $35,206,000

    The total amount of LISTO entitlements made

    $669,730,000


    The total amount of LISTO entitlements recovered

    $13,075,000


    NOTES:

    This report includes entitlements determined during the 1 July 2020 to 30 June 2021 financial year.

    1. A determination of entitlement occurs once both an individual’s eligibility and the amount of their entitlement have been established.
    2. Each beneficiary is only counted once regardless of the number of entitlements received for the financial year.
    3. The total amount recovered includes all amounts overpaid as a result of a subsequent amendment to an individual’s income tax assessment or a change to the superannuation contributions reported for that individual.
    4. Both the total amount of low income superannuation tax offset entitlements determined and the total amount recovered are rounded up to the next whole $1,000

    The number of beneficiaries with an adjusted taxable income, or estimated adjusted taxable Income, in each of the following ranges

    Adjusted Taxable Income Range

    LISTO Beneficiaries relating to 2017–18

    LISTO Beneficiaries relating to 2018–19

    LISTO Beneficiaries relating to 2019–20

    Total LISTO Beneficiaries determined in 2020–21

    Under $0

    12

    29

    425

    466

    $0 to $999

    1,102

    321,992

    20,767

    343,861

    $1,000 to $1,999

    113

    2,119

    12,841

    15,073

    $2,000 to $2,999

    98

    2,369

    15,157

    17,624

    $3,000 to $3,999

    119

    2,629

    16,972

    19,720

    $4,000 to $4,999

    122

    2,713

    19,049

    21,884

    $5,000 to $5,999

    135

    3,026

    21,457

    24,618

    $6,000 to $6,999

    132

    2,965

    23,575

    26,672

    $7,000 to $7,999

    135

    2,966

    26,303

    29,404

    $8,000 to $8,999

    142

    3,016

    28,465

    31,623

    $9,000 to $9,999

    152

    3,016

    30,713

    33,881

    $10,000 to $10,999

    160

    3,036

    33,086

    36,282

    $11,000 to $11,999

    151

    2,946

    35,655

    38,752

    $12,000 to $12,999

    194

    2,818

    38,667

    41,679

    $13,000 to $13,999

    163

    2,742

    42,474

    45,379

    $14,000 to $14,999

    197

    2,609

    44,842

    47,648

    $15,000 to $15,999

    220

    2,740

    48,030

    50,990

    $16,000 to $16,999

    206

    2,677

    51,431

    54,314

    $17,000 to $17,999

    231

    2,760

    55,835

    58,826

    $18,000 to $18,999

    231

    2,876

    61,082

    64,189

    $19,000 to $19,999

    251

    2,820

    65,619

    68,690

    $20,000 to $20,999

    376

    3,163

    72,303

    75,842

    $21,000 to $21,999

    269

    3,528

    84,536

    88,333

    $22,000 to $22,999

    269

    2,892

    80,869

    84,030

    $23,000 to $23,999

    242

    2,774

    80,924

    83,940

    $24,000 to $24,999

    234

    2,764

    82,962

    85,960

    $25,000 to $25,999

    245

    2,732

    85,698

    88,675

    $26,000 to $26,999

    263

    2,537

    87,892

    90,692

    $27,000 to $27,999

    266

    2,694

    89,528

    92,488

    $28,000 to $28,999

    288

    2,620

    90,811

    93,719

    $29,000 to $29,999

    265

    2,644

    92,920

    95,829

    $30,000 to $30,999

    262

    2,741

    93,379

    96,382

    $31,000 to $31,999

    292

    2,685

    94,697

    97,674

    $32,000 to $32,999

    292

    2,754

    96,085

    99,131

    $33,000 to $33,999

    329

    2,733

    97,104

    100,166

    $34,000 to $34,999

    415

    2,927

    98,196

    101,539

    $35,000 to $35,999

    481

    3,205

    99,851

    103,537

    $36,000 to $37,000

    726

    4,035

    106,586

    111,347

    Total

    9,780

    424,292

    2,226,784

    2,660,859

    Notes:

    1. The high volume of beneficiaries with an adjusted taxable income of between $0-$999 relates to the ATO's processing of non-lodger low income superannuation tax offset entitlements for prior years.

    Report from the Commissioner of Taxation under subsection 12(G)(2) of the Superannuation (Government Co-contribution for Low Income Earners) Act 2003 and related regulations on the working of the Act during the period:

    1 July 2019 to 30 June 2020

    The number of beneficiaries of a LISTO entitlement with an Adjusted Taxable Income

    2,534,137

    The number of beneficiaries of a LISTO entitlement with an estimated Adjusted Taxable Income

    272,589

    The total number of beneficiaries of a LISTO entitlement

    2,806,726


    The amount of LISTO entitlements made with an Adjusted Taxable Income

    $674,303,000

    The amount of LISTO entitlements made with an estimated Adjusted Taxable Income

    $37,527,000

    The total amount of LISTO entitlements made

    $711,830,000



    The total amount of LISTO entitlements recovered

    $10,121,000


    NOTES:

    1. A determination of entitlement occurs once both an individual’s eligibility and the amount of their entitlement have been established.
    2. Each beneficiary is only counted once regardless of the number of entitlements received for the financial year.
    3. The total amount recovered includes all amounts overpaid as a result of a subsequent amendment to an individual’s income tax assessment or a change to the superannuation contributions reported for that individual.
    4. Both the total amount of low income superannuation tax offset entitlements determined and the total amount recovered are rounded up to the next whole $1,000

    The number of beneficiaries with an adjusted taxable income, or estimated adjusted taxable Income, in each of the following ranges

    Adjusted Taxable Income Range

    LISTO Beneficiaries relating to 2017–18

    LISTO Beneficiaries relating to 2018–19

    Total LISTO Beneficiaries determined in 2019–20

    Under $0

    37

    346

    383

    $0 to $999

    348,029

    17,919

    365,948

    $1,000 to $1,999

    2,628

    13,347

    15,975

    $2,000 to $2,999

    3,037

    16,522

    19,559

    $3,000 to $3,999

    3,276

    19,417

    22,693

    $4,000 to $4,999

    3,494

    22,726

    26,220

    $5,000 to $5,999

    3,713

    25,564

    29,277

    $6,000 to $6,999

    3,880

    27,448

    31,328

    $7,000 to $7,999

    3,865

    30,775

    34,640

    $8,000 to $8,999

    4,126

    33,520

    37,646

    $9,000 to $9,999

    4,173

    36,353

    40,526

    $10,000 to $10,999

    4,108

    39,361

    43,469

    $11,000 to $11,999

    3,957

    41,876

    45,833

    $12,000 to $12,999

    4,083

    45,374

    49,457

    $13,000 to $13,999

    3,994

    48,805

    52,799

    $14,000 to $14,999

    3,917

    52,038

    55,955

    $15,000 to $15,999

    4,096

    55,513

    59,609

    $16,000 to $16,999

    3,998

    60,229

    64,227

    $17,000 to $17,999

    4,059

    65,313

    69,372

    $18,000 to $18,999

    4,313

    70,318

    74,631

    $19,000 to $19,999

    4,370

    73,179

    77,549

    $20,000 to $20,999

    5,648

    80,019

    85,667

    $21,000 to $21,999

    4,187

    91,417

    95,604

    $22,000 to $22,999

    4,010

    84,857

    88,867

    $23,000 to $23,999

    3,977

    83,394

    87,371

    $24,000 to $24,999

    3,991

    84,953

    88,944

    $25,000 to $25,999

    4,029

    86,383

    90,412

    $26,000 to $26,999

    3,818

    86,802

    90,620

    $27,000 to $27,999

    3,845

    87,418

    91,263

    $28,000 to $28,999

    3,926

    88,130

    92,056

    $29,000 to $29,999

    3,807

    89,195

    93,002

    $30,000 to $30,999

    3,853

    89,895

    93,748

    $31,000 to $31,999

    3,801

    90,608

    94,409

    $32,000 to $32,999

    3,905

    91,836

    95,741

    $33,000 to $33,999

    3,912

    92,125

    96,037

    $34,000 to $34,999

    4,057

    93,991

    98,048

    $35,000 to $35,999

    4,445

    94,959

    99,404

    $36,000 to $37,000

    5,629

    102,808

    108,437

    Total

    491,993

    2,314,733

    2,806,726


    Notes:

    1. The high volume of beneficiaries with an adjusted taxable income of between $0-$999 relates to the ATO's processing of non-lodger low income superannuation tax offset entitlements for prior years.
      Last modified: 01 Sep 2021QC 60070