Contributing to Superannuation

Government Co-Contribution

The Government co-contribution is available to certain individuals who make eligible personal non-concessional contributions (being a personal contribution for which no tax deduction has been claimed) to a super fund. The Government co-contribution is payable to you if:

  • you make a personal non-deductible contribution; and
  • at least 10% of your total income is from eligible employment related activities, running a business or a combination of both; and 
  • your total income for the income year is less than $58,445;
  • you lodge a tax return for the relevant year;
  • you are under age 71 at the end of the income year in which the contribution is made;
  • you do not exceed your non-concessional contributions cap in the relevant financial year; and
  • you do not have a total superannuation balance equal to or greater than $1.9 million (from 1 July 2023) at the end of 30 June of the previous financial year. The Total Superannuation Balance (TSB) is comprised of the total of an individual’s super assets including pensions and retirement savings accounts – reduced by any structured settlement (or personal injury compensation) contributions paid into your super fund.

The co-contribution is paid by the Government to the member’s super account at a rate of 50% of the eligible contribution made by the member – with a maximum co-contribution of $500.