Government Co-contribution

If you have not yet checked your eligibility, you may be missing out on potentially hundreds of dollars in superannuation savings.

To qualify for the co-contribution you need to make a personal contribution (after tax) to your super, have an assessable income (incl. Reportable fringe benefits) of less than $60,342, and lodge your income tax return with the Australian Taxation Office (ATO). Other criteria do apply.

The amount of co-contribution you will receive depends on:

• your assessable income; and
• how much you contribute to your super.

If you are eligible, then for every $1 you contribute the Federal Government will contribute $1.50 to your super, up to a maximum co-contribution of $1,500. Give your super a helping hand, get more information about the co-contribution from SPEC Super.