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Tax and other useful facts

Government co-contributions

Section: 6.9

6.9 Government co-contributions

The super co-contribution is designed to assist eligible individuals to save for their retirement. If they are eligible and make a personal super contribution during a financial year, the government will match their contribution with a super co-contribution up to certain limits.

Income year Lower income threshold Higher income threshold Max benefit
2020-21 $39,837 $54,837 $500
2021-22 $41,112 $56,112 $500

From 1 July:

  • members having a total superannuation balance of less than $1.7 million on 30 June of the year before the year the contributions are being made
  • members having not exceeded their non-concessional contributions cap in the relevant financial year.

*TSB less than $1.6 million was applicable from 1 July 2017 to 30 June 2021

This technical resource is intended for the use of financial advisers only. It is current as at the date of publication but may be subject to change. This publication has been prepared without taking into account a potential investor's objectives, financial situation, needs or objectives. Before making a recommendation based on this material, you should consider its appropriateness based on the client's objectives, financial situation and needs. Rainmaker Group is not a registered tax agent under the Tax Agent Services Act 2009. Your client should refer to a registered tax agent before relying on information published herein that may impact their tax obligations, liabilities or entitlements.

Last modified: Monday, July 12, 2021