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  • Low and middle income tax offset increase

    The Government announced on 29 March 2022 a proposal to increase the low and middle income tax offset (LMITO) by $420 for the 2021–22 income year.

    This will increase the base amount to $675 and the maximum amount to $1,500.

    The Government also confirmed that 2021–22 income year will be the last year that LMITO is available.

    We will work out the offset amount when you lodge your tax return. You don't need to complete a section in your tax return to get this tax offset.

    This measure is now law.

    See also

      Last modified: 31 Mar 2022QC 69156