Super co-contributions

From 1 July 2009 the Government will temporarily reduce the: co-contributions matching rate maximum amount payable by the Government as a co-contribution on an individual’s eligible personal non-concessional super contribution. Under this measure, the new matching rates will be: 100% % ($1.00 for every $1.00) for the 2009-10, 2010-11 and 2011-12 financial years, with a maximum co-contribution of $1,000 125%% ($1.25 for every $1.00) for the 2012-13 and 2013-14 financial years, with a maximum co-contribution of $1,250 150% % ($1.50 for every $1.00) from 2014-15 onwards, with a maximum co-contribution of $1,500.

Due to problems with our systems, a number of co-contribution payments have been delayed. Payments for 2007-08 which would normally have been paid to your super fund by 30 June 2009 were not made. Normal processing has resumed and the bulk of the backlog has been cleared, although a very small number of adjustments and further payments will be made throughout October and November. When will this payment appear in your super fund statement? It will not appear in your statement for the year ended 30 June 2009, but it will appear in a later statement. You will receive co-contribution credit interest on any payment that has been delayed, at the rate specified by the Reserve Bank of Australia – currently 3.13%. This interest will be paid as an additional co-contribution to your super fund. We apologise for any inconvenience the delayed payment may have caused. More information If you are suffering hardship as a result of these delayed payments, you should contact us on 1300 139 027 to discuss your circumstances. We can only make payments where you meet the requirements for a direct claim (when you have retired and no longer have a super account eligible to receive the co-contribution).

The super co-contribution was introduced from 1 July 2003. It is an Australian Government initiative to help low to middle income earners save for their retirement.

If you are eligible and make personal super contributions to a complying super fund or retirement savings account (RSA), the Government will match your personal super contribution with a co-contribution up to certain limits.

Super co-contribution thresholds

The way your co-contribution is determined will depend on the financial year in which you made your personal super contributions.

	Lower income threshold	Higher income threshold	What will I receive for every $1 of personal super contributions?	What is my maximum entitlement?
From 1 July 2009 until 30 June 2010	$31,920	$61,920	$1 for every $1, up to a maximum super co-contribution of $1,000 a year.	Your maximum entitlement is $1,000. However, you must reduce this by 3.333 cents for every dollar your ‘total income’ is over $31,920 up to $61,920.
From 1 July 2008 until 30 June 2009	$30,342	$60,342	$1.50 for every $1, up to a maximum super co-contribution of $1,500 a year.	Your maximum entitlement is $1,500. However, you must reduce this by 5 cents for every dollar your ‘total income’ is over $30,342 up to $60,342.
From 1 July 2007 until 30 June 2008	$28,980	$58,980	$1.50 for every $1, up to a maximum super co-contribution of $1,500 a year.	Your maximum entitlement is $1,500. However, you must reduce this by 5 cents for every dollar your ‘total income’ is over $28,980 up to $58,980.
From 1 July 2004 until 30 June 2007	$28,000	$58,000	$1.50 for every $1, up to a maximum super co-contribution of $1,500 a year. For the 2005-06 financial year, an additional one-off payment, doubling your co-contribution was made.	Your maximum entitlement is $1,500. However, you must reduce this by 5 cents for every dollar your ‘total income’ is over $28,000 up to $58,000.
From 1 July 2003 until 30 June 2004	$27,500	$40,000	$1 for every $1, up to a maximum super co-contribution of $1,000 a year.	Your maximum entitlement is $1,000. However, you must reduce this by 8 cents for every dollar your ‘total income’ is over $27,500 up to $40,000.

Last Modified: Monday, 12 October 2009