The government will provide a superannuation contribution of up to $500 annually for individuals on adjusted taxable incomes of up to $37,000.
The contribution will match 15% of total concessional contributions made by or on behalf of the member, to a maximum of $500 in the financial year. If the amount payable is less than $10, the payment will be rounded up to $10.
This measure is intended to improve the equity of superannuation taxation arrangements for low-income earners.
If you are eligible for a LISTO, it will be automatically calculated by the Australian Tax Office and deposited in your super fund each year after you lodge your tax return.
You must ensure we have your tax file number in order to be eligible.