Note: Superannuation changes extending the Low Income Super Contribution (contributions tax refund) beyond June 2017 are now law. The LISC is renamed the Low Income Superannuation Tax Offset, and the new law commenced 2 July 2017, and applies from the 2017/2018 year onwards.
In a welcome backflip, as part of its May 2016 Federal Budget, the Coalition government announced it would extend the Low Income Super Contribution (LISC) beyond its legislated expiry date of June 2017. This extension is now law, and since July 2017, the LISC has been renamed the Low Income Superannuation Tax Offset (LISTO).
The Low Income Superannuation Contribution (LISC) is now renamed Low Income Superannuation Tax Offset (LISTO), and continues indefinitely.