Claiming the government co-contribution
If your yearly before-tax income is less than $58,445, you could be eligible for a government co-contribution if you make after-tax contributions to your super1.
Under the scheme, the government matches 50 cents for every dollar you contribute to your super from your after-tax pay, up to a maximum of $500 pa. This co-contribution gets paid directly into your super account after you’ve lodged your tax return for that year, as long as your super fund has your tax file number.
Government co-contribution rates
|Total income2||Your contribution||Co-contribution|
|$43,445 or less||$1,000||$500|
|$58,445 or more||Any amount
1 If you claim a tax deduction for after-tax contributions, your contributions will be classed as before-tax (concessional) contributions and no longer eligible for the government co-contribution.
2 Assessable income, plus reportable employer super contributions, plus reportable fringe benefits for the 2023/24 financial year.