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 2023 to 30 June 2024.
|
The number of beneficiaries of a LISTO entitlement with an Adjusted Taxable Income |
2,260,615 |
|
The number of beneficiaries of a LISTO entitlement with an estimated Adjusted Taxable Income |
280,071 |
|
The total number of beneficiaries of a LISTO entitlement |
2,540,686 |
|
The amount of LISTO entitlements made with an Adjusted Taxable Income |
$626,020,000 |
|
The amount of LISTO entitlements made with an estimated Adjusted Taxable Income |
$39,604,000 |
|
The total amount of LISTO entitlements made |
$665,624,000 |
|
The total amount of LISTO entitlements recovered |
$12,216,000 |
Notes:
This report includes entitlements determined during the 1 July 2023 to 30 June 2024 financial year.
- A determination of entitlement occurs once both an individual’s eligibility and the amount of their entitlement have been established.
- Each beneficiary is only counted once regardless of the number of entitlements received for the financial year.
- 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.
- 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.
|
Adjusted taxable income range |
LISTO beneficiaries relating to 2020-21 and Earlier |
LISTO beneficiaries relating to 2021-22 |
LISTO beneficiaries relating to 2022-23 |
LISTO beneficiaries relating to 2023-24 |
Total LISTO beneficiaries determined |
|---|---|---|---|---|---|
|
Under $0 |
14 |
21 |
489 |
0 |
524 |
|
$0 to $999 |
2,273 |
350,315 |
25,290 |
0 |
377878 |
|
$1,000 to $1,999 |
199 |
2,195 |
14,864 |
0 |
17258 |
|
$2,000 to $2,999 |
181 |
2,545 |
17,587 |
0 |
20314 |
|
$3,000 to $3,999 |
161 |
2,890 |
19,554 |
0 |
22605 |
|
$4,000 to $4,999 |
163 |
3,110 |
21,791 |
0 |
25064 |
|
$5,000 to $5,999 |
143 |
3,272 |
24,046 |
0 |
27461 |
|
$6,000 to $6,999 |
176 |
3,208 |
26,347 |
1 |
29732 |
|
$7,000 to $7,999 |
165 |
3,328 |
27,984 |
0 |
31477 |
|
$8,000 to $8,999 |
175 |
3,399 |
30,120 |
0 |
33694 |
|
$9,000 to $9,999 |
178 |
3,256 |
32,387 |
0 |
35821 |
|
$10,000 to $10,999 |
199 |
3,187 |
34,768 |
0 |
38154 |
|
$11,000 to $11,999 |
207 |
3,233 |
36,311 |
0 |
39751 |
|
$12,000 to $12,999 |
226 |
3,038 |
38,477 |
0 |
41741 |
|
$13,000 to $13,999 |
219 |
3,075 |
40,377 |
0 |
43671 |
|
$14,000 to $14,999 |
238 |
2,867 |
43,604 |
0 |
46709 |
|
$15,000 to $15,999 |
245 |
2,910 |
46,357 |
0 |
49512 |
|
$16,000 to $16,999 |
289 |
2,919 |
48,247 |
0 |
51455 |
|
$17,000 to $17,999 |
290 |
3,071 |
52,452 |
0 |
55813 |
|
$18,000 to $18,999 |
345 |
3,332 |
56,971 |
0 |
60648 |
|
$19,000 to $19,999 |
377 |
3,439 |
60,091 |
0 |
63907 |
|
$20,000 to $20,999 |
463 |
3,464 |
66,353 |
0 |
70280 |
|
$21,000 to $21,999 |
504 |
3,271 |
77,996 |
0 |
81771 |
|
$22,000 to $22,999 |
489 |
3,361 |
72,098 |
0 |
75948 |
|
$23,000 to $23,999 |
495 |
3,613 |
71,640 |
1 |
75749 |
|
$24,000 to $24,999 |
455 |
3,317 |
74,916 |
0 |
78688 |
|
$25,000 to $25,999 |
449 |
3,348 |
75,922 |
0 |
79719 |
|
$26,000 to $26,999 |
383 |
3,255 |
77,926 |
0 |
81564 |
|
$27,000 to $27,999 |
476 |
3,161 |
79,547 |
0 |
83184 |
|
$28,000 to $28,999 |
408 |
3,151 |
82,105 |
0 |
85664 |
|
$29,000 to $29,999 |
435 |
3,060 |
83,324 |
0 |
86819 |
|
$30,000 to $30,999 |
442 |
3,016 |
83,692 |
0 |
87150 |
|
$31,000 to $31,999 |
482 |
3,063 |
84,852 |
0 |
88397 |
|
$32,000 to $32,999 |
514 |
2,967 |
85,651 |
0 |
89132 |
|
$33,000 to $33,999 |
599 |
3,057 |
85,729 |
0 |
89385 |
|
$34,000 to $34,999 |
696 |
3,213 |
86,567 |
0 |
90476 |
|
$35,000 to $35,999 |
794 |
3,275 |
86,699 |
0 |
90768 |
|
$36,000 to $37,000 |
1,167 |
3,605 |
88,031 |
0 |
92803 |
|
Total |
15,714 |
463,807 |
2,061,162 |
3 |
2,540,686 |
Notes:
- 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.