Superannuation (Government Co-Contribution for Low Income Earners) Act 2003
The amount of the Government co-contribution in respect of a person for the 2003-04 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 | $1,000 |
2 | more than the lower income threshold but less than the higher income threshold | $1,000 reduced by 8 cents for each dollar by which the person ' s total income for the income year exceeds the lower income threshold |
10(1A)
The amount of the Government co-contribution in respect of a person for the 2004-05 income year, the 2005-06 income year, the 2006-07 income year, the 2007-08 income year or the 2008-09 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 | $1,500 |
2 | more than the lower income threshold but less than the higher income threshold | $1,500 reduced by 5 cents for each dollar by which the person ' s total income for the income year exceeds the lower income threshold |
10(1B)
The amount of the Government co-contribution in respect of a person for the 2009-10 income year, 2010-11 income year or 2011-12 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 | $ 1,000 |
2 | more than the lower income threshold but less than the higher income threshold | $ 1,000 reduced by 3.333 cents for each dollar by which the person ' s total income for the income year exceeds the lower income threshold |
10(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 |
10(1D)
(Repealed by No 90 of 2010)
10(2)
Subsections (1), (1A), (1B) and (1C) have effect subject to sections 10A , 11 , 12 , 21 , 22 and 23 .
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