Report from the Commissioner of Taxation under subsection 12G(1) of the Superannuation (Government Co-contribution for Low Income Earners) Act 2003 and related regulations on the working of the Act during the period 1 July 2020 to 30 September 2020.
The number of beneficiaries of a LISTO entitlement |
1,902,514 |
The amount of LISTO entitlements made |
$472,615,000 |
The total amount of LISTO entitlements recovered |
$3,888,000 |
Notes:
- A determination of entitlement occurs once both an individual’s eligibility and the amount of their entitlement have been established.
- Each beneficiary is only counted once regardless of the number of entitlements received for the quarter.
- The total amount recovered includes all amounts overpaid as a result of a subsequent amendment to an individual’s income tax assessment or a change to the superannuation contributions reported for that individual.
- The total amounts of LISTO entitlements made and recovered are rounded up to the nearest $1,000.
Return to Quarterly reports – Low Income Superannuation Tax Offset (LISTO).