The Low Income Superannuation Tax Offset (LISTO)

Home > Financial Focus

View larger image

27th June 2018

If you earn less than $37,000 per year, up to $500 of the tax you pay on super contributions is paid back into your super fund by the ATO. The Low Income Superannuation Tax Offset (LISTO) provides support for low-income earners and ensure that, generally, they do not pay more tax on their super contributions than on their    take-home pay. The LISTO is calculated on 15% of the concessional (before tax) super contributions you or your employer pays into super. The maximum payment you can receive for a financial year is $500, and the minimum is $10.                              When you lodge a tax return, your LISTO will be paid directly to your super fund once your income tax return is processed and the ATO receives information from your super fund about your contributions. As the LISTO is paid directly into your super fund, you just need to make sure your super fund has your TFN. Without your TFN, your super fund cannot accept a LISTO payment.                If you’ve reached your ‘preservation age’ and are retired, you can apply to have your LISTO paid directly to you.