What LISTO is correcting
Concessional contributions are generally taxed at 15% in the fund. For a low-income earner, that could be similar to or higher than the tax paid on ordinary income. The low income super tax offset can refund some contributions tax to the super account, up to the annual maximum, when eligibility rules are met.
LISTO is not cash paid to your bank account and does not require a special investment choice. The ATO works out the amount using tax-return and contribution information and pays it to an eligible super fund.
Help the automatic process work
Lodge any required tax return and ensure your fund has your tax file number. Check that employers reported contributions accurately and that the ATO can match the account. Delays or mismatched identity details can hold up the payment.
The current income threshold is $37,000 and the maximum offset is $500, but the full eligibility test includes the composition of income and other conditions. Verify the rule for the financial year being assessed.
Find and follow up the payment
LISTO may appear as an ATO or government transaction in the fund account after assessment. Check myGov and your fund if you expected it but cannot see it, allowing time after the tax return is processed.
If you have changed funds, the ATO may need an eligible destination. Keep contact and account details current. Do not pay a service to apply for a benefit that is normally calculated automatically.
Quick reference
Key things to remember
- LISTO is calculated after you lodge your tax return and contribution data is available.
- The amount is generally 15% of eligible concessional contributions, capped at $500.
- Your fund needs your tax file number.
- The payment goes to super rather than your bank account.
Put it into practice
Your next steps
- 01
Lodge your tax return even if income is low.
- 02
Check that your fund has your correct TFN and details.
- 03
Review the government-contributions section in myGov.
- 04
Contact the ATO if data remains incomplete.
Check the source
Official information
Super and tax rules change. These primary sources are the right place to verify the details before you act.