Low Income Super Tax Offset Calculator

Introduction & Importance

The low income super tax offset (LISTO) is a government initiative designed to help low and middle-income earners save for their retirement. Understanding and utilizing this calculator is crucial for maximizing your superannuation and planning your financial future.

How to Use This Calculator

1. Enter your annual income in the ‘Income’ field.
2. Enter your age in the ‘Age’ field.
3. Click the ‘Calculate’ button.

Formula & Methodology

The LISTO is calculated as follows:

LISTO = (Income - Tax Free Threshold) * LISTO Rate

The LISTO rate is 15% for the 2021-22 financial year.

Real-World Examples

Data & Statistics

LISTO Rates by Financial Year

Financial Year	LISTO Rate
2021-22	15%

Expert Tips

• Contribute to your superannuation to maximize your LISTO.
• Consider salary sacrificing to boost your super and reduce your taxable income.

Interactive FAQ

What is the tax-free threshold?

The tax-free threshold is the amount you can earn each year without paying income tax. For the 2021-22 financial year, it’s $18,200.