Government co-contributions

Get a super top-up from the Government.

How does it work?

If you make a personal after-tax contribution to your super, the Government may add up to $500 to your account. This is known as the 'Government co-contribution'.

May be suitable if…

You earn¹ $60,400 p.a. or less in 2024/25, of which at least 10% comes from your job or a business.

What are the benefits?

Grow your super.
Receive a co-contribution of up to $500.

How is the co-contribution calculated?

To qualify for the maximum co-contribution of $500 in 2024/25 you need to contribute $1,000 and earn $45,400 or less.

You may receive a lower amount if you contribute less than $1,000 and/or earn between $45,400 and $60,400.

Case study

Ryan, aged 40, is employed and earns $40,000 p.a. He wants to build his retirement savings and can afford to invest $1,000 a year.

He decides to make a personal after-tax super contribution of $1,000. By using this strategy, he’ll qualify for a co-contribution of $500. That’s a return of 50% on the amount he invested.

Important things to consider

Personal after-tax contributions count towards your non-concessional contributions cap and penalties may apply if the cap is exceeded.
To make personal after-tax contributions in 2024/25, your total super balance must have been under $1.9 million on 30 June 2024. You must also be eligible to contribute to super.
You may want to consider other ways to contribute to super, such as salary sacrifice or personal deductible contributions.
You can’t access your super until you meet a condition of release such as reaching your preservation age and retiring.
Other eligibility conditions apply – see the Australian Taxation Office (ATO) website for more information.

¹ Includes assessable income, reportable fringe benefits and reportable employer super contributions.

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General advice and information only

Any advice and information on this website is general only, and has been prepared without taking into account your particular circumstances and needs. Before acting on any advice on this website you should assess or seek advice on whether it is appropriate for your needs, financial situation and investment objectives.

Tax disclaimer

Any general tax information on this website is intended as a guide only and is based on our general understanding of taxation laws. It is not intended to be a substitute for specialised taxation advice or an assessment of your liabilities, obligations or claim entitlements that arise, or could arise, under taxation law, and we recommend you consult with a registered tax agent.