How government co-contributions work
Adding to your super will help your super savings work harder and grow in the long-term.
The amount of government co-contribution you receive will depend on:
- how much you earn, and
- how much you decide to contribute to your super, from your take-home pay.
You may be eligible for a government co-contribution if you:
- earn less than $58,445 before tax in the 2023-24 financial year. This includes all assessable income. The ATO has helpful information to work this out
- earn 10% or more of that income from employment or self-employment
- have a total superannuation balance of less than $1.7 million at the start of the financial year.
- have not exceeded the after-tax contributions cap
- are a permanent resident of Australia for the full financial year
- lodge a tax return for the financial year
- are less than 71 years of age at the end of the financial year, which is 30 June.