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1 July 2023 to 30 June 2024

2023–24 Superannuation co-contribution report.

Published 9 October 2024

Report from the Commissioner of Taxation under subsection 54(2) of the Superannuation (Government Co-contribution for Low Income Earners) Act 2003 and related regulations on the working of the Act during the period 1 July 2023 to 30 June 2024.

The total number of beneficiaries of government co-contributions

353,462

The total amount of government co-contributions made

$111,230,000

The total amount of government co-contributions recovered

$1,077,000

Notes:

This report includes entitlements determined during the 1 July 2023 to 30 June 2024 financial year.

  1. A determination of entitlement occurs once both an individual’s eligibility and the amount of their entitlement have been established.
  2. Each beneficiary is only counted once regardless of the number of entitlements received for the financial year.
  3. The total amount recovered includes all amounts overpaid as a result of a subsequent amendment to an individual’s income tax assessment or a change to the superannuation contributions reported for that individual.
  4. Both the total amount of government co-contributions determined and the total amount recovered are rounded up to the next whole $1,000.
The number of beneficiaries with total income for government co-contribution purposes in each of the following total income ranges:

Total Income Range

Beneficiaries relating to 2020–21 and Earlier

Beneficiaries relating to 2021–22

Beneficiaries relating to 2022–23

Beneficiaries determined in 2023–24

Under $0

167

485

2,662

3,314

$0 to $999

254

448

2,429

3,131

$1,000 to $1,999

213

295

1,825

2,333

$2,000 to $2,999

179

254

1,896

2,329

$3,000 to $3,999

168

291

2,026

2,485

$4,000 to $4,999

160

262

2,175

2,597

$5,000 to $5,999

164

281

2,260

2,705

$6,000 to $6,999

156

244

2,488

2,888

$7,000 to $7,999

159

295

2,470

2,924

$8,000 to $8,999

127

241

2,458

2,826

$9,000 to $9,999

129

261

2,809

3,199

$10,000 to $10,999

174

258

2,906

3,338

$11,000 to $11,999

154

304

3,064

3,522

$12,000 to $12,999

163

301

3,327

3,791

$13,000 to $13,999

163

288

3,297

3,748

$14,000 to $14,999

153

318

3,487

3,958

$15,000 to $15,999

158

303

3,770

4,231

$16,000 to $16,999

154

368

3,902

4,424

$17,000 to $17,999

184

327

4,321

4,832

$18,000 to $18,999

204

408

4,670

5,282

$19,000 to $19,999

201

397

4,836

5,434

$20,000 to $20,999

257

545

5,698

6,500

$21,000 to $21,999

248

448

6,119

6,815

$22,000 to $22,999

252

442

6,348

7,042

$23,000 to $23,999

243

507

5,584

6,334

$24,000 to $24,999

212

440

5,751

6,403

$25,000 to $25,999

223

438

5,997

6,658

$26,000 to $26,999

207

458

5,884

6,549

$27,000 to $27,999

199

437

6,063

6,699

$28,000 to $28,999

216

456

6,004

6,676

$29,000 to $29,999

198

458

6,025

6,681

$30,000 to $30,999

223

423

6,616

7,262

$31,000 to $31,999

205

459

6,412

7,076

$32,000 to $32,999

240

431

6,537

7,208

$33,000 to $33,999

210

421

6,698

7,329

$34,000 to $34,999

230

427

6,756

7,413

$35,000 to $35,999

224

440

6,740

7,404

$36,000 to $36,999

246

441

6,951

7,638

$37,000 to $37,999

232

460

6,905

7,597

$38,000 to $38,999

240

441

6,886

7,567

$39,000 to $39,999

263

510

7,211

7,984

$40,000 to $40,999

234

484

7,442

8,160

$41,000 to $41,999

221

466

7,257

7,944

$42,000 to $42,999

242

456

7,200

7,898

$43,000 to $43,999

222

456

7,330

8,008

$44,000 to $44,999

258

548

7,730

8,536

$45,000 to $45,999

240

613

8,333

9,186

$46,000 to $46,999

248

527

7,706

8,481

$47,000 to $47,999

224

510

7,706

8,440

$48,000 to $48,999

261

488

7,645

8,394

$49,000 to $49,999

247

438

7,629

8,314

$50,000 to $50,999

270

505

7,648

8,423

$51,000 to $51,999

202

469

7,410

8,081

$52,000 to $52,999

198

462

7,617

8,277

$53,000 to $53,999

162

463

7,241

7,866

$54,000 to $54,999

125

451

7,146

7,722

$55,000 to $55,999

34

475

7,487

7,996

$56,000 to $56,999

29

54

7,294

7,377

$57,000 to $57,999

34

0

127

161

$58,000 to $58,999

25

0

0

25

$59,000 to $59,999

22

0

0

22

$60,000 to $60,999

9

0

0

9

$61,000 to $61,999

15

0

0

15

70,000 and acove

0

0

1

1

Total

11,674

23,576

318,212

353,462

Notes:

  1. The low number of beneficiaries in total income ranges above $52,999 are as a result of higher total income thresholds in prior years.
The number of beneficiaries whose spouse's taxable income fell within each of the following ranges:

Spouse Taxable Income Range

Number of spouses determined 2020-21 and Earlier

Number of spouses determined 2021-22

Number of spouses determined 2022-23

Number of spouses determined 2023-24

Under $0

53

224

1,385

1,662

$0 to $4,999

205

580

7,126

7,911

$5,000 to $9,999

108

326

4,326

4,760

$10,000 to $14,999

126

398

4,967

5,491

$15,000 to $19,999

183

512

6,478

7,173

$20,000 to $24,999

249

746

7,651

8,646

$25,000 to $29,999

198

627

6,557

7,382

$30,000 to $34,999

210

612

6,244

7,066

$35,000 to $39,999

236

573

6,239

7,048

$40,000 to $44,999

185

584

6,512

7,281

$45,000 to $49,999

195

627

6,880

7,702

$50,000 to $54,999

195

499

6,420

7,114

$55,000 to $59,999

129

410

6,202

6,741

$60,000 to $64,999

116

376

5,997

6,489

$65,000 to $69,999

120

347

5,739

6,206

$70,000 to $74,999

115

355

5,597

6,067

$75,000 to $79,999

100

324

5,431

5,855

$80,000 to $84,999

96

301

5,203

5,600

$85,000 to $89,999

91

266

4,908

5,265

$90,000 to $94,999

95

277

4,832

5,204

$95,000 to $99,999

90

262

4,429

4,781

$100,000 and above

1,180

4,429

59,467

65,076

Total

4,275

13,655

178,590

196,520

 

The number of beneficiaries who did not have a spouse at the end of the financial year

138,690

 

The number of beneficiaries whose spouse's taxable income was not able to be determined

18,252

 

QC25777