Australian low-income earners are set to receive an $810 bonus under Treasurer Jim Chalmers' superannuation tax reforms.
Up to 1.3 million more workers stand to benefit from the due-to-rise income threshold for the Low-Income Superannuation Tax Offset (LISTO), the government estimates.
The offset applies to workers earning under $37,000 a year, with the threshold set to rise to $45,000 from July 2027, as it has not been indexed since 2017.
When an employer pays super – currently 11.5 per cent of wages, rising to 12 per cent – that contribution is taxed before it hits the worker’s super account.
LISTO refunds that tax, up to a cap, directly into the worker’s super fund.
A maximum payment of $810 will account for recent increases in the Superannuation Guarantee rate.
An estimated 490,0