Government Co–contributions Calculator
The Government Super Co-contributions Scheme is an incentive to encourage people earning less than $61,920 p.a. to make personal after-tax contributions to their super. If you are eligible (see below), and your income is less than or equal to $31,920 p.a. then you will receive from the Government $1.00 for every after-tax dollar you contribute to super - up to $1,000 p.a. The Government Super Co-contribution amount decreases by 3.333 cents for every dollar earned over $31,920, until it reaches zero at $61,920 p.a.
To find out how much you would receive based on your income and after-tax contribution amount, use our Super Co-contribution Calculator below.
Eligibility to receive the Government
Super Co-contribution
You will be eligible for the co-contribution for an income year if:
- you make eligible personal superannuation contributions during the income year; and
- your total income (assessable income plus reportable fringe benefits and reportable employer superannuation contributions* (RESC)) is less than $61,920 (the higher income threshold); and
- 10% or more of your total income is earned from carrying on a business, eligible employment or both; and
- you are less than 71 years old at the end of the income year; and
- you are not a temporary resident, and
- you lodge an income tax return for the relevant income year.
* RESC are generally salary sacrifice contributions. They are all employer contributions the employee could have chosen to receive as salary and wages rather than superannuation contributions. RESC specifically excludes superannuation guarantee (SG) payments and mandated employer contributions.
Information and calculations are current as at July 2009 and subject to change.
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