Co-contributions are part of the government’s co-contribution scheme. It is designed to boost retirement savings for low income earners. If eligible, the government makes an additional contribution to super for those who earn up to $61,920 per annum.
To qualify, you must satisfy eligibility criteria and have made personal after tax contributions into your superannuation fund such as MilitarySuper.
Am I eligible?
If your assessable income and fringe benefits are less than the limit imposed by the government, you may be entitled to receive a co-contribution amount into super based on information from your super fund and your individual tax return.
How much could I receive?
The maximum co-contribution amount is $1,000 per annum and is payable if your annual income is below the limit set by the government. You do not need to apply; the Australian Taxation Office will determine your eligibility from your tax return.
How do I find out more?
Please read our .