Low Income Superannuation Tax Offset (LISTO)

What is it?

The Low Income Superannuation Tax Offset (LISTO) is a Commonwealth Government super contribution paid into super accounts to help low income earners save for their retirement.

To be eligible for LISTO your adjusted taxable income needs to be $37,000 or less per year.

LISTO is essentially a refund of the tax that's been deducted from your concessional contributions (salary sacrifice and/or employer contributions) over the course of the financial year.

The amount of LISTO that you receive is 15% of concessional contributions your employer makes to a taxed super fund.

The maximum amount you can receive for a financial year is $500 and the minimum is $20.

Am I eligible?

You may be eligible for the LISTO payment if:

  • your adjusted taxable income is $37,000 or below
  • concessional contributions are made into a taxed super fund during the financial year
  • at least 10% of your income is derived from employment or business sources, and
  • you are a permanent Australian or New Zealand resident.


What do I need to do to receive the payment?

Once you are a member of a taxed super fund you don't need to do anything other than lodge your annual tax return. The Australian Taxation Office will work out if you're eligible based on your tax return and contribution information reported by your super fund. The payment will then automatically be paid into your super account. For more information on LISTO visit the Australian Taxation Office website.

Example

Melissa is an Admin Officer in the SA public sector. Her employer pays 9.5% SG on her annual salary of $25,000. Melissa is also making salary sacrifice contributions. Based on her taxable income, she may be eligible to receive a LISTO payment.

 
Contribution type Contribution amount Tax deducted LISTO entitlement
9.5% Employer cont. $2,375.00 $356.25 $356.25
1% Salary Sacrifice $250.00 $37.50 $37.50
Total $2,625.00 $393.75 $393.75