Low and Middle Income Tax offset not available in tax return 2023
Low and middle-income tax offset (LMITO)
LMITO ended on 30 June 2022. The last year you can receive it is the 2021–22 income year.
LMITO is not available for the 2022–23 income year and later income years.
This means for some of you your tax refund will be less by up to $1080.
the old LMITO amounts from 2018–19 to 2020–21 income years
The LMITO amount for the 2018–19, 2019–20 and 2020–21 income years remains the same at between $255 and $1,080.
The amount of offset you receive depends on your circumstances, such as your taxable income and how much tax you have paid throughout the income year.
The 2021–22 income year is the last year for the LMITO – it will not be available for future income years.
The tables below show the amount of LMITO you can receive. This depends on the income year and your taxable income.
| Taxable income | Offset |
|---|---|
| $37,000 or less | $255 |
| More than $37,000 but less than $48,000 | $255 plus 7.5 cents for every dollar above $37,000, up to a maximum of $1,080 |
| More than $48,000 to $90,000 | $1,080 |
| More than $90,000 but less than $126,000* | $1,080 minus 3 cents for every dollar above $90,000 |
