Receiving co-contributions

The super co-contribution is a payment made by the Commonwealth Government to help eligible people to boost their retirement savings.

If you are a low or middle-income earner and make personal contributions to your super fund from your after-tax pay, you may be eligible for a Government contribution (called a co-contribution) to your super, up to a maximum amount ($500 in the 2014-15 financial year).

The amount of Government co-contribution you can receive depends on how much you contribute and what your income is. For the 2014-15 financial year, the Government will match your personal after-tax contributions at a rate of 50 cents for each $1 you contribute, up to a maximum co-contribution of $500, provided that your total income (which includes reportable employer super contributions)is no more than $34,488 in the 2013-2014 financial year and you meet other eligibility requirements (refer below). The super co-contribution progressively reduces for incomes over this amount and ceases when your total income reaches $49,488 for the 2014-15 financial year. For more information, including updated income thresholds and limits in later financial years, visit the Australian Taxation Office (ATO) website at ato.gov.au/super.

You don't need to apply for the co-contribution. If you're eligible and we have your tax file number (TFN) it will be paid into your APSS account automatically. The way your co-contribution is calculated depends on the financial year in which you made your personal super contributions.

To learn more information about the Government’s co-contribution and any proposed changes contact the ATO on 13 10 20 or visit their website at ato.gov.au/super.

Who is eligible?

To be eligible for a co-contribution in a financial year, you must meet all of the following criteria:

  • Your total income (which includes reportable employer super contributions) must be less than the higher income threshold for that financial year ($49,488 in 2014-2015), although you will only be eligible for the maximum co-contribution of $500 if your total income is less than the lower income threshold ($34,488 in 2014-15).
  • You must have made a personal after-tax contribution to your super before 30 June of the financial year.
  • 10% or more of your total income must have been earned from eligible activities, including being an employee, running a business, or both.
  • You must be under age 71 at the end of the financial year.
  • You must not have held an eligible temporary resident visa at any time during the financial year (exceptions apply to New Zealand citizens and holders of certain prescribed visas).
  • You must have lodged a tax return for the financial year.

The APSS must have your tax file number to be able to accept co-contributions into your Member Savings account. You should be aware spouse contributions aren't included when assessing eligibility for the super co-contribution, and the Government’s co-contribution does not count towards the contributions limits.

Do I need to apply for the super co-contribution?

No. Simply lodge your income tax return as normal. The ATO will use the information on your income tax return, and contribution information from your super fund, to work out whether you are eligible.

If you are eligible, the ATO will automatically calculate the super co-contribution amount and deposit it into your nominated super account.