Tax and Superannuation Laws Amendment (2013 Measures No. 2) Act 2013 (85 of 2013)
Schedule 6 Government co-contribution for low income earners
Superannuation (Government Co-contribution for Low Income Earners) Act 2003
4 After subsection 10(1B)
Add:
(1C) The amount of the Government co-contribution in respect of a person for the 2012-13 income year or a later income year must not exceed the maximum amount worked out using the following table:
|
Maximum Government co-contribution |
||
|
Item |
Person's total income for the income year |
Maximum amount |
|
1 |
the lower income threshold or less |
$500 |
|
2 |
more than the lower income threshold but less than the higher income threshold |
$500 reduced by 3.333 cents for each dollar by which the person's total income for the income year exceeds the lower income threshold |