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Co-contribution

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How can you turn $1,000 into $1,500? 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 $46,920 and make an after-tax personal contribution to your super, you may be eligible for a payment into your super account.

The government will pay 50 cents for every dollar you contribute to your super, up to a maximum amount of $500. 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 total income

 You pay

 Your reward

$31,920

$1,000

$500

$35,000

$794

$397

$40,000

$460

$230

$45,000

$128

$64

$46,920

$0

$0

 

Take our quiz below to find out if you are eligible for the government co-contribution.

Co-contribution eligibility checklist

If you answer yes to the following questions you may be eligible for a co-contribution payment

I have made an after-tax personal contribution to a complying super fund or retirement savings account
My total income including Reportable Fringe Benefits is less than $46,920
10% or more of my total income is from eligible employment or from operating a business
I have not held an 'eligible temporary resident visa' at any time during the year
I have submitted an income tax return at the end of the financial year
I am under 71 years old at the end of the financial year