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Key tax and superannuation thresholds

Low and middle income tax offset

Section: 3.3

A low and middle income tax offset (LMITO) is available in the 2018/19 year to resident individual taxpayers and certain trustees, with relevant income that does not exceed $125,333. The amount of the offset will be:

  • for taxpayers with income not exceeding $37,000 - $200
  • for taxpayers with income exceeding $37,000 but not exceeding $48,000 - $200 plus 3% of the amount of the income that exceeds $37,000
  • for taxpayers with income exceeding $48,000 but not exceeding $90,000 - $530 and
  • for taxpayers with income exceeding $90,000 - $530 less 1.5% of the amount of the income that exceeds $90,000.

The LMITO is in addition to the low income offset.

Last modified: Tuesday, April 30, 2019