Low Income Super Tax Offset

Budget measure

  • A new Low Income Superannuation Tax Offset (LISTO) will replace the Low Income Superannuation Contribution (LISC) from 1 July 2017. See Supporting Australians to save for their retirement by introducing the Low Income Superannuation Tax Offset on the Budget 2016–17 website fact sheet page.

From 1 July 2017, the Government will introduce the Low Income Superannuation Tax Offset (LISTO). This will replace the Low Income Superannuation Contribution (LISC) policy that has been repealed from 1 July 2017.

If you have an adjusted taxable income up to $37,000, you will receive a refund of the tax paid on your concessional contributions, up to a cap of $500. The Australian Taxation Office (ATO) will determine your eligibility for the LISTO, and will pay the amount directly into your superannuation account.