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Super contributions

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Hi. I earned just over $40k last financial year and contributed over $1k before tax. Am I eligible for government co-contribution? Tax lodged and cleared last month but don't see any contribution into my super. Or does it have to be after tax super contribution? TIA
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ATO Certified Response

Community Moderator

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Hi @Huwambrosio

 

Welcome to our Community.

 

@macfanboy is correct. To be eligible for a super co-contribution, you need to make an after-tax contribution, not a before-tax contribution. In addition to making an after-tax contribution, you also need to meet all of the other criteria as outlined in the link that @macfanboy posted.

 

It is also worth noting that earning $40,000 doesn't automatically make you eligible. We recommend that you have a look at the requirements of the two income tests (the income threshold test and the 10% eligible income test) that you need to meet.

 

If you are eligible, we make most super co-contribution payments between November and January each year. You can find out more about when we pay the co-contribution on our website.

 

Hope this helps.

 

Thanks,

 

ChrisR

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ATO Certified Response

Taxicorn

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@Huwambrosio 

 

It has to be an after-tax contribution that you are not going to claim a tax deduction for:

 

https://www.ato.gov.au/Individuals/Super/In-detail/Growing-your-super/Super-co-contribution/?page=2

Most helpful response

ATO Certified Response

Community Moderator

Replies 0

Hi @Huwambrosio

 

Welcome to our Community.

 

@macfanboy is correct. To be eligible for a super co-contribution, you need to make an after-tax contribution, not a before-tax contribution. In addition to making an after-tax contribution, you also need to meet all of the other criteria as outlined in the link that @macfanboy posted.

 

It is also worth noting that earning $40,000 doesn't automatically make you eligible. We recommend that you have a look at the requirements of the two income tests (the income threshold test and the 10% eligible income test) that you need to meet.

 

If you are eligible, we make most super co-contribution payments between November and January each year. You can find out more about when we pay the co-contribution on our website.

 

Hope this helps.

 

Thanks,

 

ChrisR