The co-contribution scheme has become even better
For every $1 voluntary contribution you countibute to your super account you can receive up to $1.50. You could add an extra $1,500 each year to your super. Effective from 1 July 2007, the following changes have made the co-contribution open to more members.
- You may now receive a super co-contribution as a self-employed person, provided you make a voluntary superannuation contribution and satisfy the eligibility requirements
- The lower threshold is $28,980 (which is indexed each year) and
- The higher threshold has increased to $58,980.
Grab your co-contribution benefits in just four easy steps!
Step 1: Learn how the government can contribute to your super
Step 2: Find out if you're eligible
Step 3: See how much you could receive
Step 4: Make a voluntary contribution to your super
Step 1: Learn how the government can contribute to your super
The government co-contribution scheme was created to help Australians save for their retirement. To qualify you need to make a voluntary contribution into your super account and meet the eligibility rules. Often referred to as a personal contribution, a voluntary contribution is where you make your own contributions from you after-tax income to your superannuation account.
For every $1.00 you contribute this financial year you may receive up to $1.50 for free from the government, depending on your total income - it's as easy as that.
Step 2: Find out if you're eligible
You will be eligible for the co-contribution in a year of income if:
- You make voluntary (personal) superannnuation contributions to a complying superannuation fund like REST or Acumen
- your 'total income' is less than $58,980. Your total income includes assessable income plus reportable fringe benefits - including any reduction for deductions for carrying on a business, which may be different to your taxable income
- 10% or more of your total income is from eligible employment, carrying on a business or a combination of both
- you do not hold an eligible temporary resident visa at any time during the year
- you lodge an income tax return for the year of income and
- you are less than 71 years old at the end of the year of income.
Step 3: See how much you could receive
The amount of government co-contribution you may receive will depend on your total income and the voluntary contributions that you make during the income year. The government may co-contribute $1.50 for every $1 in voluntary contributions that you make to your superannuation account up to a certain amount.
My annual income is $28,980 or less
The maximum co-contribution benefit is $1,500 and is available to people on an assessable income of $28,980 or less who make a voluntary contribution of $1,000. If you are eligible for the full $1,500, that's a voluntary contribution of around $19.30 a week to receive the additional $1,500 co-contribution benefit.
My annual income is between $28,980 and $58,980
You are still entitled to some government co-contribution to your superannuation. The $1,500 amount reduces by 5 cents for each dollar of income over $28,980, up to an income of $58,980 where it phases out completely. Click here to use the Australian Taxation Office (ATO) calculator to help you work out how much government co-contribution that you are entitled to or see the table below.
The table below shows you what your weekly and yearly contribution needs to be to get the maximum.
Total income | Voluntary contribution (Weekly) | Voluntary contribution (Yearly) | Your maximum co-contribution | $28,980 | $19.23 | $1000.00 | $1,500 | $30,000 | $18.58 | $966.00 | $1,449 | $32,000 | $17.29 | $899.33 | $1,349 | $34,000 | $16.01 | $832.67 | $1,249 | $36,000 | $14.73 | $766.00 | $1,149 | $38,000 | $13.45 | $699.33 | $1,049 | $40,000 | $12.17 | $632.67 | $949 | $42,000 | $10.88 | $566.00 | $849 | $44,000 | $9.60 | $499.33 | $749 | $46,000 | $8.32 | $432.67 | $649 | $48,000 | $7.04 | $366.00 | $549 | $50,000 | $5.76 | $299.33 | $449 | $52,000 | $4.47 | $232.67 | $349 | $54,000 | $3.19 | $166.00 | $249 | $56,000 | $1.91 | $99.33 | $149 | $58,000 | $0.63 | $32.67 | $49 | $58,980 | Nil | Nil | Nil |
Example:
If your total income is $36,000 per year and you make a voluntary contribution of $766 (or $14.73 per week) you will be entitled to a maximum co-contribution of $1,149, if you are eligible.
My annual income is $58,980 or over
Unfortunately, you are not entitled to any government co-contribution to your superannuation.
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如果雇主给你交了养老金，在一个财政年度里，低于1000块，政府就会自动给你的账户发1500快。是这样吗？还是说，为了得到这1500快，除了雇主的1000快之外，自己还需要往账户里再交一定金额？
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想得到政府的钱，还真不是件容易的事！
