lito {grattan} | R Documentation |
The Low Income Tax Offset (LITO) is a non-refundable tax offset to reduce ordinary personal income tax for low-income earners.
N.B. Since v2.0.0, lito
only calculates the actual LITO, rather than
an offset with custom parameters. For such functionality, use (unexported) Offset
.
lito(income, fy.year = NULL)
lmito(income, fy.year = NULL)
income |
The income on which the offset is applied. |
fy.year |
The financial year for which the LITO is desired. |
The LITO or LMITO for the given income and tax year.