Co-contributions

If you qualify for the Commonwealth Government Co-contribution it could help grow your super even faster.

The co-contribution scheme rewards you for personally contributing to your super after tax by offering to match a percentage of your contribution.

If your total income is less than $56,112 in the 2021/22 financial year and you make after-tax contributions to your super in the same year, the Commonwealth Government will contribute up to $0.50 for every $1.00 you contribute, to a maximum of $500.

To be eligible for a co-contribution you must:

  • have made one or more eligible personal super contributions to your super account during the financial yea
  • pass the two income tests (income threshold and 10% eligible income tests)
  • be less than 71 years old at the end of the financial year
  • not hold a temporary visa at any time during the financial year (unless you are a New Zealand citizen or it was a prescribed visa)
  • lodge your tax return for the relevant financial year
  • have a total superannuation balance less than the general transfer balance cap at the end of 30 June of the previous financial year
  • not have contributed more than your non-concessional contributions cap.

To receive the maximum co-contribution of $500 you need to contribute at least $1,000 after tax and earn less than $41,112 a year. The co-contribution you can receive reduces on a sliding scale, and phases out altogether when your income reaches $56,112.

For more information on how to make an after tax contribution visit the Ways to pay web page.

  If your after-tax super contribution is:
  $1,000 $800 $500 $200
If your income is: Your super co-contribution will be:
$41,112 or less $500 $400 $250 $100
$42,112 $467 $400 $250 $100
$44,112 $400 $400 $250 $100
$46,112 $333 $333 $250 $100
$48,112 $267 $267 $250 $100
$50,112 $200 $200 $200 $100
$52,112 $133 $133 $133 $100
$54,112 $67 $67 $67 $67
$56,112 $0 $0 $0 $0

Your co-contribution is calculated by the ATO each year based on your tax return and directly deposited into your Co-contribution Account.