- Customer Help Centre
- Superannuation
- Understanding Superannuation
Government Co-Contributions
Every dollar can make a big difference to your super balance, as it will compound over the years. So, if you earn less than $43,445 per year, you may be eligible for the government co-contribution. The higher income threshold is $58,445, which is on pro-rata basis.
The total co-contribution will depend on your income, and you will need to lodge a tax return to receive it.
Am I eligible?
To receive a government co-contribution, you need to:
- Make voluntary, after-tax contributions during the financial year.
- Earn $58,445 or less.
- Be aged under 71 at the end of the financial year.
- Be an Australian resident.
- Lodge an income tax return for the financial year.
- Have a total superannuation balance less than the general transfer balance cap at the end of 30 June of the previous financial year.
- Not have contributed more than your non-concessional contribution cap.
Please note, if you’ve held a temporary resident visa at any time during the financial year, you are not eligible.