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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 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: 04 Sep 2020QC 60070