Jacob Fenech

you can claim a tax deduction for X amount.

And what we're saying is X amount is slightly going up this year.

So it's increasing a little bit.

So there's a genuine incentive there.

Obviously, from a financial planning perspective, the downside is that your money is in there until retirement.

So just keep that in mind too.

That's the big one.

So what you mean by that, Jacob, when you say release it, that's if you pay over, if you're, let's say you are earning over $250,000 and your employer is putting more than the $27,500 away as concessional contributions on your behalf each year.

So you don't even know that's going on, that's just going in there.

And then you realize, hey, it's over $27,500

and I'm paying extra because I'm this type of earner.

Can I get some of that extra out of super?

Is that what you mean by release?

That makes sense.

That was point number one.

So we'll try and be a little bit quicker with the next few.

So you talked about offsets at the beginning of the show, at the top of the show.

Two of the things that people might not be aware that takes place in their tax return are the impacts of something called LITO, L-I-T-O.

And I'm not going to even try and pronounce this, but L-M-I-T-O.

So is that the low middle income tax offset?