The government’s objective with the super co-contribution scheme is to help eligible people boost their retirement savings.

The super co-contribution is only available to low and middle income earners (i.e. taxable income less than $49,488) who have made after tax personal contributions to their superannuation fund. After tax contributions means the taxpayers are not claiming a tax deduction for their contributions.

The government co-contribution to the super fund is set at a maximum of $500 per annum and is calculated on the employee’s contribution amount and their taxable income. The higher the employee’s taxable income, the lower the super co-contribution amount.

For an individual to receive a super co-contribution they must:

  • Have made one or more eligible personal super contributions to their super fund during the financial year.
  • Have a taxable income of less than $49,488 for the year.
  • Be less than 71 years old.
  • Have lodged a tax return for the relevant financial year.
  • Not have been on a temporary visa.

Once the ATO has calculated a taxpayer’s super co-contribution entitlement they then pay the amount to the taxpayer’s superannuation fund and advise the taxpayer in writing. The super co-contribution amount received by the super fund is not taxable.


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