Claiming the government co-contribution
If your yearly before-tax income is less than $57,016, you could be eligible for a government co-contribution if you make after-tax contributions to your super.^
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 income*||Your contribution||Co-contribution|
|$42,016 or less||$1,000||$500|
|$57,016 or more||Any amount
* Assessable income, plus reportable employer super contributions, plus reportable fringe benefits for the 2022/23 financial year.
^ 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.
Contributions for 2021/22
If you wanted to make a contribution before the end of the 2021/22 financial year, you must have submitted it by 23 June 2022, to ensure your contribution was received and allocated to your account prior to the end of the financial year.
If you made a one-off contribution, using direct debit or BPAY, we would have deducted the money from your bank account within 5 business days of receiving your request.