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Government co-contribution

A boost from the government into your super

What is the government co-contribution?

Government super co-contribution is an incentive for lower income earners to add to their own superannuation. Depending on your annual income (up to $58,445 per year), whenever you make a voluntary after-tax contribution to your super, the government can chip-in to boost your super balance even more.

How the super co-contribution works in 2023/24

If you earn less than $58,445 per year, the government can contribute up to $500 to your super account in a year. Depending on your income, the government will pay in up to 50 cents for every one dollar you contribute yourself from your after-tax income. 

Contribution calculatorSee the numbers

Who is eligible?

You need to satisfy certain basic criteria to be eligible for a government co-contribution. In 2023/24 you must:

  • Be an Australian citizen, a permanent Australian resident or a New Zealand citizen working in Australia
  • Be less than 71 years of age
  • Have made at least one voluntary, after-tax contribution to your super fund
  • Earn less than $58,445 in that financial year
  • Be in full or part-time employment and/or run your own business
  • Include all the details of your after-tax contributions on your Tax Return
  • Have a super balance of less than $1.7 million on 30 June of the previous financial year
  • Not have exceeded the before-tax contributions cap in the current financial year

How to contribute

Making a voluntary, after-tax contribution to your super can be done in just a few simple steps:

  1. Log into your super fund member section and find your fund's BPay code or EFT details
  2. Make the payment from your bank to your super account
  3. Fill out the form Intent to claim a deduction for personal super contributions and send it to your fund. They'll send an acknowledgement letter back.
  4. Complete the contribution details in your next tax return (section D12) and include the acknowledgment letter. The ATO then does the rest.

How to get your co-contribution

It is not necessary to apply for the co-contribution. The ATO automatically works out the level of co-contribution and pays it into your super.

For help, or more information, contact your Industry SuperFund.

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