Kuripot-TIPS # 21 -- How to get $500 from the Australian government on your SUPER

The government will top up 50 cents for every dollar you contribute after-tax to a maximum of $500 each financial year.


It is called the government co-contribution.

How to qualify:
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- total income is under $51,021 for the 2016-17 financial year
- you make at least one after-tax contribution to your super during the 2016-17 financial year
- 10% or more of your annual income is from eligible employment, running a business or both
- you’re an Australian citizen, permanent resident or a New Zealand citizen working in Australia
- you lodge an income tax return for the 2016-17 financial year (members over 65 must satisfy the work test)
- you’re under 71 years of age at the end of the 2016-17 financial year
- you’ve provided your SUPER provider your TFN
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Speak with your SUPER provider before end of the fiscal year (June) as it is required for the deposit to be received before end of June.