Life Stages
I have enough money to last me the rest of my life, unless I buy something.
$1000 free
Would you turn down $1000, if it was offered to you? That's what the Federal Government is offering in their super co-contribution scheme.
All you have to do is make an after-tax personal contribution to your super and if you are eligible the government will match $1 to every $1 you contribute.
Many people have taken advantage of co-contribution, but research has shown that the take up rate is still very low among young people. By boosting your super early, your money has a longer period of time to grow. That means you will have more when you retire. Don't say no to free money!
How can you turn $1000 into $2000? No, it's not a magic trick - it's the government co-contribution, and it is a very easy and effective way to boost your super. If you earn less than $61,920 and make an after-tax personal contribution to your super, you may be eligible for a payment into your super account.
The government will match $1 for every $1 you contribute to your super, up to a maximum amount of $1000. The co-contribution payment is based on your income and how much you personally contribute to super. See the table below, to find out how much you may be entitled to:
| Your personal contribution is: | $1000 | $800 | $500 | $200 |
| Your income is: $31,920 or less | $1000 | $800 | $500 | $200 |
| $33,920 | $933 | $800 | $500 | $200 |
| $35,920 | $867 | $800 | $500 | $200 |
| $37,920 | $800 | $800 | $500 | $200 |
| $39,920 | $733 | $733 | $500 | $200 |
| $41,920 | $667 | $667 | $500 | $200 |
| $43,920 | $600 | $600 | $500 | $200 |
| $45,920 | $533 | $533 | $500 | $200 |
| $47,920 | $467 | $467 | $467 | $200 |
| $49,920 | $400 | $400 | $400 | $200 |
| $51,920 | $333 | $333 | $333 | $200 |
| $53,920 | $267 | $267 | $267 | $200 |
| $55,920 | $200 | $200 | $200 | $200 |
| $57,920 | $133 | $133 | $133 | $133 |
| $59,920 | $67 | $67 | $67 | $67 |
| $61,920 or more | $0 | $0 | $0 | $0 |
Take our quiz below to find out if you are eligible for the government co-contribution.
