SAPTO, LMITO & LITO

 

LOW AND MIDDLE INCOME TAX OFFSET (LMITO)

LMITO applies from 1 July 2018 until 30 June 2022. LMITO applies in addition to the Low Income Tax Offset (LITO). The offset is paid in arrears ie applied on an annual basis as part of the annual tax return.

Income	LMITO 2018-21	LMITO 2021-22
Up to $37,000	$255	$675
$37,001 to $48,000	$255 plus 7.5 cents for each dollar over $37,000	$675 plus 7.5 cents for each dollar over $37,000
$48,001 to $90,000	$1,080	$1,500
$90,001 to $126,000	$1,080 less 3 cents for each dollar over $90,000	$1,500 less 3 cents for each dollar over $90,000
Above $126,000	Nil	Nil

 

LOW INCOME TAX OFFSET (LITO)

LITO is calculated automatically as part of the tax assessment. It is an 'offset" i.e. if LITO offset is greater than the tax payable, the excess is not refundable and also can't be used to offset the Medicare levy

Taxable Income from 1/7/2020	LITO
Up to $37,500	$700
$37,501 to $45,000	$700 - (Tax Inc - 37,500) x 5%
$45,001 to $66,667	$375 - (Tax Inc - 45,000) x 1.5%
Over $66,667	Nil

Taxable Income from 1/7/2012 to 30/6/2019	LITO
Up to $37,000	$445
$37,001 to $66,667	$445 - (Tax Inc - 37,000) x 1.5%
Over $66,667	Nil

Taxable Income from 1/7/2011 to 30/6/2012	LITO
Up to $30,000	$1,500
$30,001 to $67,499	$1,500 - (Tax Inc - 30,000) x 4.0%
Over $67,500	Nil

Taxable Income from 1/7/2010 to 30/6/2011	LITO
Up to $30,000	$1,500
$30,001 to $67,499	$1,500 - (Tax Inc - 30,000) x 4.0%
Over $67,500	Nil

Taxable Income from 1/7/2009 to 30/6/2010	LITO
Up to $30,000	$1,350
$30,001 to $63,749	$1,350 - (Tax Inc - 30,000) x 4.0%
Over $63,750	Nil

Taxable Income from 1/7/2008 to 30/6/2009	LITO
Up to $30,000	$1,200
$30,001 to $60,000	$1,200 - (Tax Inc - 30,000) x 4.0%
Over $60,000	Nil

Taxable Income from 1/7/2007 to 30/6/2008	LITO
Up to $30,000	$750
$30,001 to $48,749	$750 - (Tax Inc - 30,000) x 4.0%
Over $48,750	Nil

Taxable Income from 1/7/2006 to 30/6/2007	LITO
Up to $25,000	$600
$25,001 to $40,000	$600 - (Tax Inc - 25,000) x 4.0%
Over $40,001	Nil

MATURE AGE WORKERS TAX OFFSET

The mature age workers offset was abolished from 1/7/2014.

SENIORS AND PENSIONERS TAX OFFSET(SAPTO)

SAPTO effectively gives a higher tax free threshold. Age, income level, eligibility for an Australian Government pension, and not in jail conditions must be met. Each member tested separately for SAPTO, income test based on rebateable income. Before 1 July 2012 was called the Senior Australians Tax Offset. The thresholds and the maximum value of the tax offset is:

2012/13, 2013-14, 2014-15, 2015-16, 2016-17 & 2017-18
Circumstance	Maximum Tax Offset	Max Tax Offset applies up to threshold	Cuts off above this threshold (12.5c per $1)
Single, widowed, separated	$2,230	$32,279	$50,119
Married or defacto (each)	$1,602 (each)	$28,974 (each)	$41,790 (each)
Spouse - illness separated (each)	$2,040 (each)	$31,279 (each)	$47,599 (each)
2011/12
Circumstance	Maximum Tax Offset	Max Tax Offset applies up to threshold	Cuts off above this threshold (12.5c per $1)
Single, widowed, separated	$2,230	$30,685	$48,525
Married or defacto	$1,602	$26,680	$39,496
Spouse - illness separated	$2,040	$29,600	$45,920
2010/11
Circumstance	Maximum Tax Offset	Max Tax Offset applies up to threshold	Cuts off above this threshold (12.5c per $1)
Single, widowed, separated	$2,230	$30,685	$48,525
Married or defacto	$1,602	$26,680	$39,496
Spouse - illness separated	$2,040	$29,600	$45,920
2009/10
Circumstance	Maximum Tax Offset	Max Tax Offset applies up to threshold	Cuts off above this threshold (12.5c per $1)
Single, widowed, separated	$2,230	$29,867	$46,707
Married or defacto	$1,602	$25,680	$37,496
Spouse - illness separated	$2,040	$27,600	$43,920
2008/9
Circumstance	Maximum Tax Offset	Max Tax Offset applies up to threshold	Cuts off above this threshold (12.5c per $1)
Single, widowed, separated	$2,230	$28,867	$46,707
Married or defacto	$1,602	$24,680	$37,496
Spouse - illness separated	$2,040	$27,600	$43,920
2007/8
Circumstance	Maximum Tax Offset	Max Tax Offset applies up to threshold	Cuts off above this threshold
Single, widowed, separated	$2,230	$25,867	$43,707
Married or defacto	$1,602	$21,680	$34,496
Spouse - illness separated	$2,040	$24,600	$40,920
2006/7
Circumstance	Maximum Tax Offset	Max Tax Offset applies up to threshold	Cuts off above this threshold
Single, widowed, separated	$2,230	$24,867	$42,707
Married or defacto	$1,602	$20,680	$33,496
Spouse - illness separated	$2,040	$23,600	$39,920
2005/6
Circumstance	Maximum Tax Offset	Max Tax Offset applies up to threshold	Cuts off above this threshold
Single, widowed, separated	$2,230	$21,968	$39,808
Married or defacto	$1,602	$18,247	$31,063
Spouse - illness separated	$2,040	$21,167	$37,487