How much will you get?
If your income is less than $56,112 (for 2021-22, indexed each year) and you have made a voluntary after-tax contribution to your account by 30 June each year, the ATO will confirm your eligibility to receive the Government co-contribution up to a maximum of $500 per year (for incomes up to $41,112 for 2021-22, indexed each year).
Some examples of how much you could get are shown below:
|Your total income*||Your voluntary after-tax contribution||Maximum co-contribution|
|Up to $41,112||$1,000||$500|
The co-contribution gets paid directly into your account after you’ve lodged your tax return for that year, if your super fund has your TFN.
For information on the thresholds for other financial years, check with ATO.
It’s important to know that you’ll only be eligible if:
- you make voluntary after-tax contributions to a super fund during the financial year,
- your total income is less than $56,112 p.a.,
- you’re under 71 years old at the end of the financial year,
- you lodge an income tax return for the relevant 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 employment or a combination of both,
- your non-concessional (after-tax) contributions did not exceed the cap for that financial year,
- your total superannuation balance, at 30 June of the previous financial year, does not exceed your personal transfer balance cap of up to $1.7 million. You can find out your personal transfer cap by contacting the ATO or logging MyGov.
If you're not eligible for Government co-contribution, you could still get some great financial benefits through salary sacrifice, or if you claim a tax deduction.
Make a contribution
There are a couple of ways that you can add to your super and take advantage of Government co-contribution:
You can make you can make voluntary, after-tax contributions to your super using BPAY. Get your unique BPAY reference number
You can add to your super on an ongoing or one-time basis from your take-home pay using direct debit. Log into Member Online to make a new or change an existing direct contribution.
Ask your employer to make regular payments from your after-tax pay.
If you want your contribution to be allocated to your account by a particular date, like before the end of the financial year, we need to receive the contribution before the close of that business day.
Please keep in mind your financial institutions processing time-frames if making payment via BPAY. We recommend you allow at least three business days for BPAY and 7-10 business days for postage.
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. Find out more about contribution caps.
*Total income = assessable income + reportable fringe benefits + reportable employer super contributions.
**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.