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  • Low income super tax offset contribution

    The government introduced a low income superannuation tax offset (LISTO), which replaces the low income superannuation contribution (LISC) policy that was repealed on 1 July 2017.

    LISTO will provide continued support for low-income earners and ensure that generally they don't pay more tax on their super contributions than on their take-home pay. Eligible individuals will be paid via a contribution benefit into their fund account. The effect of the LISTO payment to the individual's account is to offset the tax their superannuation fund pays on their contributions.

    Effective 1 July 2017, eligible members with an adjusted taxable income up to $37,000 will receive a LISTO contribution to their super fund. The LISTO contribution will be equal to 15% of their total concessional (pre-tax) super contributions for an income year, capped at $500.

    See also:

    Last modified: 28 Nov 2017QC 51297