Government Co-contribution

Get a super boost of up to $1,000

To help you save for your retirement, the Government is willing to give you a super boost of up to $1,000!

It's called the Co-Contribution Scheme. Provided you are eligible, the government will match your personal contribution dollar for dollar, up to $1,000.

You will be eligible for this tax year (2010/2011), if you:

• make a personal contribution out of after-tax salary to a complying superannuation fund or a Retirement Savings Account (RSA)
• have a total income of less than $61,920.
• lodge an income tax return for the year of income
• do not hold an eligible temporary resident visa at any time during the year
• are less than 71 years old at the end of the year of income.

TIP: Your total income is the total of your assessable income, your reportable fringe benefits and your reportable employer super contributions. This may be different to your taxable income.

How much could you get?

For the 2010/2011 tax year, the maximum co-contribution of $1,000 will apply to those who earn $31,920 or less. However, if you earn more than this you may still get a part payment as the co-contribution cuts out when your income reaches $61,920.

Use our Co-contribution Calculator to see if you are eligible.

How to claim

All you need to do is make a personal after-tax contribution to your super account. You don't even have to apply for the Co-Contribution. The Tax Office will calculate your entitlement using information from your superannuation fund and tax return.

For more information

Learn more about co-contributions by reading our co-contribution factsheet or you can also read more on the ATO website.