Make your super a little sweeter thanks to a little incentive called a government co-contribution

If you contribute some after tax money to your super, you may be able to receive a boost from the government. It’s their way of rewarding you for making an effort to grow your super.

Things you need to know

 
Best suited if your income is below $54,837 (for the 2020-21 financial year).
 
You’ve made or will make an after-tax contribution into your super by 30 June 2021.
 
To get the maximum co-contribution from the government ($500 each financial year), you’ll need to add $1,000 into your super and earn under $39,837 (for the 2020-21 financial year). The maximum co-contribution then reduces as your income increases.
 

If you earn less than $54,837 a year, there are some other things you need to check to make sure you are eligible.

If you’re over the income threshold, check with your spouse/partner as they may be eligible.
 
Your total income is under $54,837 for the 2020-21 financial year. Note: The maximum co-contribution reduces as your income increases.
 
10% or more of your total annual income is from eligible employment, running a business or combination of both.
 
You make at least one after-tax contribution to your super account during the financial year.
 
Youʼre under 71 years of age at the end of the financial year.
 
You have a total super balance less than $1.6 million at the end of 30 June of the previous financial year.
 
You lodge an income tax return with the Australian Tax Office for the financial year (any member aged 67 or over must satisfy the work test^).
 
Youʼre an Australian citizen, a permanent Australian resident or a New Zealand citizen working in Australia.
 
Youʼve provided us with your Tax File Number.
 

To qualify you must not have contributed an amount more than your after-tax contributions cap for the relevant financial year.

You will not receive a co-contribution for any personal contributions you make that you claim a tax deduction for

Use the handy Co-Contributions Calculator* to see your
potential bonus

What is your total income?

Over   isn’t eligible The maximum co-contribution you could receive is  

How much do you intend to contribute?

You will need to contribute to receive the maximum co-contributions

Co-contributions you could receive

If you can’t receive a co-contribution from the government, check out some other ways to top up here.

How to make a contribution

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*The maximum $500 co-contribution per financial year applies when an eligible member makes an after-tax contribution of $1000. The amount the government co-contribution reduces by 3.333 cents for every dollar you earn above the 2020-21 financial year lower income threshold of $39,837per year, until you reach the higher income threshold of $54,837per year, after which you will not be eligible to receive the government co-contribution.

^ Visit rest.com.au/facts more information on work test and work test exemption.