The Low Income Super Tax Offset is a superannuation payment made by the Government into the superannuation account of Low Income Earners to help them save for retirement.

This superannuation support for low-income earners essentially refunds the contributions tax payable on concessional contributions.

The low income super contribution boosts a low-income earners’ balance back to where it would be had no tax been deducted from a deductible contribution.

The low income super tax offset is different from the super co-contribution.

The Low Income Super Tax Offset (LISTO) replaced the Low Income Superannuation Contribution (LISC) from 1 July 2017.

How Much is the Low Income Super Tax Offset?

You may be eligible to receive a Low Income Super Tax Offset of between $10 and $500.

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The actual amount received is calculated by the level of Concessional Contributions made into your account.

Eligibility Requirements for the Low Income SuperTax Offset

You need to meet all of the following requirements to be eligible for the Low Income Super Tax Offset:

  • you or your employer makes Concessional Contributions into a complying superannuation fund (including SG contributions). A Concessional Contribution is a contribution made into superannuation where a tax deduction has been claimed (i.e. pre-tax contributions).
  • You earn $37,000 p.a. or less. You ‘Adjusted Taxable Income‘ is used to calculate your earnings.
  • You have not held a temporary resident visa at any time throughout the year.
  • You lodge an income tax return and 10% or more of your total income is derived from business and/or employment OR you do not lodge an Income Tax Return and 10% or more of your total income comes from employment.


How do you receive your Low Income Super Tax Offset?

You don’t need to do anything! The ATO will know the contributions that have been made when it receives your tax return, or will be notified by your superannuation fund if you don’t lodge a tax return.

However, it is important to make sure your superannuation provider has your Tax File Number on record. Without this, you cannot receive the Low Income Super Tax Offset.

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How is the Low Income Super Tax Offset calculated?

Your Low Income Super Tax Offset (LISTO) is equivalent to 15% of the Concessional Contributions made into your superannuation account. It’s as simple as that.

For example, if your employer paid $3,000 worth of SG Contributions into your account throughout the financial year, you will automatically receive a LISTO of $450 ($3,000 x 15%).

If you would like anything clarified or have any further questions about Low Income Super Tax Offset or any other topics, please do not hesitate to leave a comment in the section below and I will endeavour to respond within 24 hours.

Chris Strano

Chris Strano created SuperGuy to help the average punter navigate through the complex and ever-changing super rules. It has since become one of Australia's leading digital super resources. Subscribe to SuperGuy's YouTube channel for the latest strategies to boost your super savings.

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