The Super Co-contribution is now even bigger and better
The Super Co-contribution is an Australian Government initiative to assist eligible individuals to save for their retirement. If you are eligible and make personal superannuation contributions, the Government will match your contribution with a co-contribution up to certain limits.Check out our Co-contribution Calculator here.
The information below has been sourced from the Australian Taxation Office. More information is available on their web site at www.ato.gov.au
How much can I get?
Do I need to apply?
When will my Super Co-contribution be paid?
What is a personal super contribution?
How do I make a personal super contribution?
How will I know that I have received the Super Co-contribution?
Can I get the Super Co-contribution next year?
Will the Super Co-contribution be taxed?
How is my total income calculated?
How much can I get?
Check out our Co-contribution Calculator here.
The amount you may be able to receive depends on your total income for the year and other eligibility criteria. The table below details the thresholds and scaling with some examples. The way your co-contribution is determined will depend on the income year in which you made your personal superannuation contributions.
| Total Income | Personal Contribution* Required | Maximum Co-contribution available |
| $28,980 or less | $1,000 | $1,500 |
| $36,000 | $766 | $1,149 |
| $42,000 | $566 | $849 |
| $50,000 | $300 | $449 |
| $58,980 | N/A | nil |
*Personal contributions must be made from after-tax salary to be eligible. i.e. salary sacrificed contributions are ineligible for Co-contributions. The amount you may receive is reduced by 5c for every dollar of total income over $28,980.
ATO Co-contribution calculator. 
Do I need to apply?
No, you do not need to apply for the co-contribution or fill in any additional forms. If you are otherwise eligible , all you need to do is make personal superannuation contributions to your superannuation fund or retirement savings account (RSA) and lodge an income tax return.
The Tax Office will use the information on your income tax return and contribution information we receive from your superannuation fund or RSA to work out whether you are eligible. If you are, we will automatically calculate the co-contribution amount and deposit it into your superannuation account
When will my Super Co-contribution be paid?
Your co-contribution is payable after:
- you have lodged your income tax return
- your superannuation fund has lodged a member contributions statement (MCS) for you, and
- the Tax Office has received any additional information required
The Tax Office generally receives the required information from superannuation funds by 31 October following the end of the financial year. Over the last couple of years Super Co-contributions have been paid in February and March in the year following that to which it applies.
The Tax Office will send you a letter with details of your co-contribution.
As long as you make personal superannuation contributions and meet the eligibility requirements, the co-contribution will be paid in to your superannuation account each year.
What is a personal super contribution?
Personal superannuation contributions are the amounts you choose to contribute to your superannuation fund from your after tax income. This is in addition to any employer contributions and any contributions made through a salary sacrifice arrangement.
You must make one or more personal superannuation contributions during the income year to obtain the co-contribution for yourself. The contributions must be made to a complying superannuation fund or retirement savings account (RSA).
The following superannuation contributions do not attract the co-contribution:
- contributions made by your spouse, employer or any other party on your behalf
- salary sacrifice contributions (these are considered to be employer contributions).
How do I make a personal super contribution?
There are three payment methods:
1. Electronic Funds Transfer via BPAY®
Our Biller code is 18622. You can find out your reference number by logging into the secure member area or by telephoning us.
This year you will need to make your payment by Friday 27 June 2008.
2. By cheque, in person or by post - but be sure we receive it before 5.00pm 30 June.
3. By making arrangements with your employer to make an after tax payment.
Remember - we must receive the payment by 5.00pm 30 June 2008.
PLEASE DO NOT BRING CASH as we do not have the facilities to accept cash.
How will I know that I have received the Super Co-contribution?
The Tax Office will send you a letter with details about your co-contribution amount after it has been paid to your superannuation fund. The co-contribution will appear on your next statement.
Can I get the Super Co-contribution next year?
Yes. For each year that you are eligible, make personal superannuation contributions and lodge an income tax return, the Government will make a co-contribution to your superannuation account.
Will the Super Co-contribution be taxed?
The co-contribution will be treated as an undeducted contribution for taxation purposes and will not be subject to any taxation when paid into your account.
How is my total income calculated?
Your total income is not your taxable income. It represents the sum of your assessable income plus your reportable fringe benefits total.
Your assessable income is your income before deductions are allowed. This amount will generally be the amount you write at TOTAL INCOME OR LOSS on your income tax return, unless:
- you have a distribution from a partnership or trust, income or losses from rent or business (including personal services income), a capital gain or foreign source income, or
- you claimed a deductible amount for a pension or annuity
Your reportable fringe benefits total is the amount you write at REPORTABLE FRINGE BENEFITS TOTAL on your income tax return.
You can phone the Tax Office information line on 13 10 20, if you need help in working out your total income.
