Government Co-Contributions

Government Co‑contributions

Grow your super with a top-up from the Commonwealth Government

The Government Co-contribution can help you build your super savings, so you have more to live your best life after you stop working. The amount you receive will depend on how much you earn and how much you contribute. The Government Co-Contribution Scheme rewards you for making a voluntary after-tax contribution to your super.

How it works

If you’re earning less than $56,112 in the 2021/22 financial year, if you make a personal (after-tax) contribution into your Super SA account, the Commonwealth Government may give your super a bit of a boost too. The Government may contribute $0.50 for every $1 you contribute to super from your after-tax savings, up to a maximum of $500, subject to meeting eligibility criteria.

The Government Co-contribution can help you build your super savings so you have more to live your best life after you stop working.

The amount you receive will depend on how much you earn and how much you contribute.

To get a better idea of what the Government could co-contribute to your Super SA account, have a look at this: 


Total income for the financial year1 Your after-tax contribution Maximum government co-contribution into your super account
Up to $41,112 $1,000 $500
$44,837 $600 $300
$47,837 $400 $200
$50,837 $200 $100
$56,112 Any amount $0


You can also estimate your super co-contribution with the ATO’s Super co-contribution calculator.

 

A few quick Government Co-Contribution case studies

Meet Johnny

Johnny is aged 26. He earns $35,000 p.a. and has decided to invest $1,000 of his after-tax income into super each year. This means he could receive a Government Co-contribution of $500. That’s a sizeable return of 50% on the amount he’s investing.

Meet Suzie

Suzie is aged 42. She earns $41,000 p.a. and has decided to invest $800 of her after-tax income into super each year. This means she could receive a Government Co-contribution of $400. She’s getting a government top-up of 50% on the amount she’s investing.

Government Co-Contribution eligibility

You should be eligible for a Commonwealth Government Co-Contribution if —

  • Your total income is less than $56,112 for the 2020/21 financial year
  • You’re under 71 years of age
  • You’re a citizen or permanent resident of Australia
  • You make at least one personal after-tax contribution to your Super SA account by 30 June each year
  • You have at least 10% of your total assessable income and reportable fringe benefits attributable to eligible employment (as determined by the Australian Taxation Office)
  • You lodge an Australian income tax return for that year of income.


Some frequently asked questions about Government Co-Contributions


Ready to make an after-tax contribution and receive your Government Co-contribution?

BPAY is a simple way to make one-off contributions. 

Have the following details ready when making your payment:

  • Triple S Biller Code: 465104
  • Super SA Select: 979559
  • Customer Reference Number (available in the online member portal)

If you need help with anything, don’t hesitate to give us a call on 1300 369 315 or complete an online enquiry.

1 Applies to 2021-22

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