Low income superannuation contribution (LISC)

From 1 July 2012, if you earn less than $37,000 a year and you or your employer makes before-tax contributions (such as employer contributions or salary sacrifice contributions) into your superannuation scheme, you may be eligible to receive a payment of up to $500 directly into your superannuation account.

This payment is called the low income superannuation contribution (LISC). It is calculated at a rate of 15% of your total eligible concessional contributions for the year up to a maximum of $500 per year.

LISC is different from the super co-contribution, and your entitlement to this payment is assessed separately. LISC is payable (where eligible) even if an individual is not entitled to the super co-contribution.

For further information on LISC see STC Fact Sheet 13 Information about the Commonwealth Government's superannuation co-contribution and low income superannuation contribution.