The ‘Super Co-contribution’ scheme



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The ‘Super Co-contribution’ scheme.

The basic principle is that for every $1 that an eligible person puts into super, the Government will match that $1 with a $1 of their own, giving you $2 into your super fund account.

There is a maximum limit, which is now $1,000 (from 1st July 2009), and there are income thresholds to be taken into account.

A person on $31,920 or less is eligible for the full $1,000 co-contribution, but incomes above this but under $61,920 will get a tapered benefit, with no benefit being available for those over $61,920.

Source: www.ato.gov.au/content/42616

[important]Updated in Oct 2014[/important]

Australian Tax Office
Table 20: Co-contribution income thresholds
Year Maximum Lower income Higher income
entitlement threshold threshold
2014 ??15 $ 500 $34,488 $49,488
2013 ??14 $ 500 $33,516 $48,516
2012 ??13 $ 500 $31,920 $46,920
2011 ??12 $1,000 $31,920 $61,920
2010 ??11 $1,000 $31,920 $61,920
2009 ??10 $1,000 $31,920 $61,920
2008 ??09 $1,500 $30,342 $60,342
2007 ??08 $1,500 $28,980 $58,980
2006 ??07 $1,500 $28,000 $58,000
2005 ??06 $1,500 $28,000 $58,000
2004 ??05 $1,500 $28,000 $58,000
2003 ??04 $1,000 $27,500 $40,000

The low income limit had increased to $34,488 by 2014, with an upper limit of $49,488


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