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.

Visit the ATO website for up to date information