Q&A7 Super Co-contribution payments

Q&A7 Super Co-contribution payments

Tax Planning Questions and Answers

Super Co-contribution payments

Answer: 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 of $500.

You will be eligible if you can answer yes to all of the following:

  • you made one or more eligible personal super contributions to your super account during the financial year
  • you pass the two income tests
    • your total income for the financial year is less than the higher income threshold ($50,454 for 2015-16)
    • 10% or more of your total income comes from eligible employment-related activities or carrying on a business, or a combination of both
  • you were less than 71 years old at the end of the financial year
  • you did not hold a temporary visa at any time during the financial year (unless you are a New Zealand citizen or it was a prescribed visa)
  • you lodged your tax return for the relevant financial year.

You are not entitled to a super co-contribution for personal contributions you have been allowed as a tax deduction.

Source: ATO


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