To Low Income Tax Offset (LITO) page

To Low & Middle Income Tax Offset (LMITO) page

Budget 2022 announcement 29 March 2022:

Low and Middle income earners who were eligible for the LMITO will have their offset entitlement increased by $420 for the 2021-22 financial year.

The Low Middle Income Tax Offset becomes payable at the time of tax return assessment, and so the benefit of this increase will flow to taxpayers from July 2022 onwards.