The superannuation co-contribution is an Australian Government initiative to help eligible individuals boost their retirement savings.

If you’re a low- or middle-income earner and make personal (after-tax) contributions to your superannuation fund, the government also contributes (called a co-contribution) up to a maximum amount of $500.

The amount of government co-contribution you receive depends on your income and how much you contribute.

When you lodge a tax return, the ATO will work out if you’re eligible. If your superannuation fund has your tax file number (TFN), the ATO will pay it to your superannuation account automatically.

The way your co-contribution is calculated depends on the financial year in which you made your personal superannuation contributions.

Eligibility for the Superannuation Co-contribution

You will be eligible for the super co-contribution if you can answer yes to all the following:

• you made one or more eligible personal super contributions to your super account during the financial year, and
• you pass the two income tests described below:
  – income threshold test
  – 10% eligible income test
• you were less than 71 years old at the end of the financial year, and
• 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), and
• you lodged your tax return for the relevant financial year.