If you earn less than $52,697 per year in 2018/19, you could be eligible for up to $500 contributed to your super by the government, when you make a personal contribution with your after-tax pay.

The co-contribution scheme means that, for every dollar you put into super from your after-tax pay, the government may match it with up to 50 cents for up to $500.

The best part about it? You don’t have to fill in a single form beyond lodging an annual tax return.

If you qualify for the co-contribution, the ATO will do the heavy lifting and ensure payments are made to your super fund automatically.

Governments and policies can change regularly, so consider acting now while the scheme is still around.

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Who can receive a co-contribution?

If you are a low or middle-income earner and make personal (after-tax) contributions to your super, you may also qualify for the government’s co-contribution up to a maximum amount of $500. You may be eligible for a co-contribution if you:

  • earn less than $52,697 before tax, including assessable income
  • earn 10% or more of that income from employment or self-employment
  • have not exceeded the total superannuation balance of $1.6m or the non-concessional contributions cap 
  • are a permanent resident aged under 71 at the end of the financial year 
  • lodge a tax return for the financial year.

The good news is you don't need to apply. If you're eligible and we have your tax file number (TFN) the Australian Tax Office will credit your super account automatically.

How much does the scheme add up to?

The maximum amount you could receive is $500, so it’s worth contributing up to $1,000 depending on your income.

For every dollar you earn over $37,697 the co-contribution amount decreases until it cuts out at $52,697.

To keep it simple, we’ve put together a table of how much you can expect to receive based on your salary and contribution amount for the 2018/19 financial year.

If you earn... The maximum you could receive is… By contributing…
$37,697 or less $500 $1000
$40,697 $400 $800
$43,697 $300 $600
$46,697 $200 $400
$49,697 $100 $200
$52,697 $0 $0

What you need to do

To be eligible to receive your government co-contribution for this financial year, you’ll need to make a personal contribution to your account. The quickest and easiest way to do this is via BPAY, but you can also EFT your contribution or set up a direct debit.

Find out how to make a contribution

Put a little away today,
thank yourself tomorrow

There are many ways you can boost your super and save on tax.

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