Low income super tax offset

The low income super tax offset replaced the low income super contribution (LISC) from 1 July 2017 and provides a similar benefit to LISC.

Low income superannuation tax offset
Eligible contributions	CCs made to complying fund for purpose of providing super benefits. Excludes CCs made to constitutionally protected funds and certain defined benefit contributions
Minimum earnings (10%) test	Assessable income, RESC & reportable fringe benefits total derived as an employee or carrying on a business ——————————————————————————————- >10% Total assessable income, RESC & reportable fringe benefits total
Residency	Must not hold eligible temporary resident visa
Income limit	Adjusted taxable income must be less than $37,000
Amount payable	Lesser of: 15% of eligible contributions, and $500 Minimum amount payable is $10

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