Low income super tax offset

How do I qualify for the offset?

A person may qualify for the offset if:

• They receive concessional super contributions
• Their adjusted taxable income does not exceed $37,000; and
• At least 10% of their total income for the year is from employment where they are treated as an employee, running a business, or a combination of both.
• They do not hold a temporary resident visa.

The offset is calculated as 15% of the person’s concessional contributions for the year, up to a maximum of $500. The offset is paid directly by the Australian Tax Office (ATO) to your Brighter Super account.

The ATO works out adjusted taxable income by adding a number of income sources to taxable income, including:

• Adjusted fringe benefits
• Some foreign income
• Net investment and rental property losses
• Tax-free pensions and benefits; and
• Deductible super contributions