A Super Boost for Low- and Middle-Income Earners

Would you like $500 to boost your Super this year?

If you’re a low to middle-income earner, you could be eligible to take advantage of the Federal Government’s Super Co-contribution Scheme. 

What’s Government Co-contribution?

Maybe you’ve heard about or participated in the co-contribution scheme before? The government helps low to middle-income earners save more for their retirement by contributing extra money toward super.

That’s right, the government is giving away money! 

How much could you get?

There are two co-contribution income thresholds:

  • A lower threshold ($36,813 for 2017–18)
  • A higher threshold ($51,813 for 2017–18).

If you are eligible and earn equal to or less than the lower threhold, you will receive 50c for every $1 you contribute to your super fund, up to a maximum of $500. 

If your total income is between the two thresholds, your maximum entitlement will reduce progressively as your income rises. 

You will not receive any co-contribution if your income is equal to or greater than the higher threshold.

Your wage Your after-tax contribution  Maximum government co-contribution
$36,813 p.a. or less $1,000 $500
$41,000 $721 $360
$46,000 $388 $194
$51,812 $40 $20

To work out exactly how much you may be eligible to receive in co-contribution, take a look at the ASIC’s Super co-contribution calculator.

Who is eligible?

You may be eligible for the co-contribution if you:

  • Make an after-tax contribution to a super fund during the financial year, for which you do not claim a tax deduction and you lodge your tax return
  • Receive at least 10% of income from employment (either as an employee or self-employed)
  • Are under age 71 at the end of the financial year in which you make the contribution
  • Do not hold a temporary visa at any time during the income year, unless you are a New Zealand citizen or holder of a prescribed visa.

The co-contribution ‘total income’ threshold includes both monetary income AND the value of any fringe benefits that form part of your salary package, such as a car or phone, PLUS any salary sacrificed contributions. Income also includes bank interest and net capital gains from selling shares or property.

Still unsure if you are eligible to receive co-contribution? Contact our Member Care Centre on 1300 360 907 and we would be happy to help you work it out and answer any other questions you may have about your Super.

How do you get the co-contribution?

All you need to do is make an after-tax contribution to your super before 30 June 2018. We recommend that all payments are finalised by Wednesday 27 June 2018 to avoid missing the End of Financial Year (EOFY) deadline.

You can make a payment by:

Be sure to lodge your 2017–18 tax return after 30 June and the Government will pay the co-contribution directly to your super fund within 60 days. It’s all done through your tax file number* (TFN) so it’s too easy!

*Christian Super can only accept after-tax contributions, or receive co-contributions on your behalf, if you have provided us with your TFN.