1 June 2013
The superannuation (super) co-contribution is a government initiative to help eligible individuals boost their super savings for the future.
If you have an adjusted taxable income of between $31,920 and $46,920 and you contribute money from after-tax income to your super account, you may be eligible for a co-contribution of up to $500. If your income is between the lower and higher income thresholds, it is subject to the taper/reduction rate. If you're eligible, the Government will pay the co-contribution directly into your super account after you've put in your tax return.
To find out more, please contact us.