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Frequently Asked Questions

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Government Co-contribution

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. Depending on your salary, for every $1 you put into your super, the government puts in another $1.00 for you, up to a maximum of $1,000.
 

Eligibility
 

From 1 July 2008, you will be eligible for the co-contribution if:

• you make a personal super contribution by 29 June (30th is a Saturday this year)

• your total income is less than $61,920 (for 2009/10, 2010/11 and 2011/12)

• 10% or more of your total income is from eligible employment, running a business or a combination of both

• you are less than 71 years old at the end of the year of income

• you do not hold an eligible temporary resident visa at any time during the year lodge your income tax return.

More detail on eligibility is available from the ATO website.
 

How much can I get?
 

Use the ATO's Co-contribution calculator to work out how much you may be eligible to receive.
 

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 for the 2011/2012 financial year:

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. For 2011/2012, you will need to make your payment by 5.00pm Thursday 28 June 2012.
2. By cheque, in person or by post - but be sure we receive it before 5.00pm Friday 29 June 2012. 
3. By making arrangements with your employer to make an after tax payment.

Remember - we must receive the payment by 5.00pm  Friday 29 June 2012 as the 30th is a Saturday.
 

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.
 

Applying for super co-contributions.

You don’t need to apply for the co-contribution. All you need to do is:

• make personal super contributions (after tax) before 30 June

• don’t claim a personal super contribution deduction for at least some of your personal contributions in your income tax return, and

• lodge an income tax return.

Once we have reported your personal contributions to the ATO, and you have lodged your income tax return, the ATO will then calculate if you are eligible. If you are, the ATO will automatically calculate the co-contribution amount and deposit it into your super account.

The ATO makes most payments between November and January each year as most contributions are reported by then.

If you don’t supply your TFN to we cannot accept your personal contributions and you may miss out on a co-contribution.