Super co-contribution

To help you save for your retirement, the Government could give you money to boost your super. It's called Government co-contribution.

You may be eligible for a Government co-contribution if:

  • you make voluntary after-tax contributions to a super fund during the financial year,
  • your total income is less than $50,454 p.a,
  • you are under 71 years old at the end of the tax year,
  • you lodge an income tax return for the financial year,
  • you have not held a temporary resident visa at any time during the financial year,
  • you earned 10 per cent or more of your total income from running a business, or from eligible employment1 or a combination of both.

If you're not eligible for Government co-contribution, you could still get some great financial benefits through salary sacrifice.

How much will you be entitled to? 

Your total income2 You pay Your boost
$35,454 $1,000 $500
$40,000 $696 $348
$42,500 $530 $265
$45,000 $364 $182
$47,500 $198 $99
$50,454 $0 $0

*Thresholds apply for the 2015-16 financial year. For information on the thresholds for the 2014-15 financial year check with the ATO.

Make your contribution

There are a couple of ways that you can add to your super and take advantage of Government co-contribution:

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BPAY®
You can make one off or regular payments using BPAY. Get your BPAY reference number.

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Direct Debit
To make regular payments from your bank or financial institution, complete and return a Direct debit request form [PDF 174KB].

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Payroll Deductions
Ask your employer to make regular payments from your after-tax pay.

When do I need to make my contribution?

It is important to remember that for the contribution to be allocated for that financial year we must receive the contribution before the close of the last business day in that financial year.

Please keep in mind your financial institutions processing time-frames if making payment via BPAY and postage time-frames if sending a cheque. We recommend you allow at least three business days for BPAY and 7-10 business days for postage.

Contribution caps

It's also worth noting that there are some caps which limit the amount of after-tax contributions that can be made and any super contributed over the cap amount is subject to extra tax. But these caps are fairly high. For example, the non-concessional (after-tax) contribution cap is set at $180,000 per year. Find out more about contribution caps.

1 Eligible employment generally means anything resulting in you being treated as an employee. Amounts from eligible employment also includes some income of employees who think of themselves as being self-employed, such as those who run their business through a company and the company pays them salary or wages.

2 Total income = assessable income + reportable fringe benefits + reportable employer super contributions.

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