Key tax and superannuation thresholds
Low income tax offset
Low income tax offset (LITO) - 2017/18
|Taxable income (TI)||Reduction in offset (RI)||Maximum offset|
|$37,001 - $66,666||(TI - $37,000) x 0.015||$445 - RI|
Note: Other offsets apply for seniors and pensioners which increases their tax-free income threshold (refer to Seniors and Pensioners Tax Offset).
Last modified: Friday, January 12, 2018