Australian Superannuation Co-contribution scheme
The super co-contribution scheme is designed to assist eligible individuals to save for their retirement.
If you are eligible and make personal super contributions during a financial year, the government will match your contribution with a super co-contribution up to certain limits.
If you are a low or middle-income earner and make personal (after-tax) super contributions to your super fund, the government also makes a contribution (called a co-contribution) up to a maximum amount ($500 in 2013-14).
The amount of government co-contribution you can receive depends on how much you contribute and what your income is.
Changes from 1 July 2012 were as follows:
The maximum co-contribution entitlement was reduced to $500 from $1,000
The matching rate was reduced to 50% from 100%
Co-contribution income thresholds
| Year | Maximum entitlement | Lower income threshold | Higher income threshold |
|---|---|---|---|
|
2014–15 |
$500 |
$34,488 |
$49,488 |
|
2013–14 |
$500 |
$33,516 |
$48,516 |
If you earn $34,488 or less in the 2014-15 year, and pay $1,000 or more in voluntary personal super contributions, you will receive an extra $500 into your super fund.  This gradually reduces to Zero at an income rate of $49,488.
If you earn $34,488 or less in the 2014-15 year, and pay exacty $500 in voluntary personal super contributions, you will receive an extra $250. (50% of your own contributions).
You don’t need to apply for the co-contribution. If you’re eligible and the fund has your tax file number (TFN) we will pay it to your fund account automatically.
The way your co-contribution is calculated depends on the financial year in which you made your personal super contributions.
The rates in 2003-04 were:
| Year | Maximum entitlement | Lower income threshold | Higher income threshold |
|---|---|---|---|
|
2003–04 |
$1,000 |
$27,500 |
$40,000 |