ATO Community

Re: Am I eligible for Co Contributions to Super

Newbie

Views 116

Replies 5

Hi, I am wondering if I am eligible for the co-contributions for Super. A bit of the information I found was confusing. 

1 ACCEPTED SOLUTION

Accepted Solutions

Most helpful response

ATO Community Support

Replies 0

Hi @brenny

 

There isn't a $1 to $1 contribution. The highest co-contribution amount is $500 which requires a personal contribution of $1000, and requires you to meet the relevent income threshold.

 

You'll need to determine which threshold you fall into in order to estimate your co-contribution amount. Have a read through our page on co-contribution eligibility and you'll notice an income threshold test section. In this section you'll need to calculate your total income as per the instructions. One of the links available there will take you to the co-contribution income threshold table which lists the lower and upper threshold amounts for the current financial year. To be eligible for the full $500 amount your total income needs to be equal to or below the lower threshold amount. 

 

You'll also need to make sure you meet the 10% eligible income test too which can be found on the main page.

 

Hope this helps, let us know if you have any further questions. 

 

 

5 REPLIES 5

Devotee

Replies 4

Have a read of the information on this page.

Newbie

Replies 0

Cool, i can't tell if I pass the two income tests. Thanks.

ATO Community Support

Replies 2

Hi @brenny,

 

We'll need more information about your circumstances to help you.

 

The page @Glenn4802 provided has links on the left hand side that may help you.

 

All the best.

Newbie

Replies 1

I want to know if I am within the income threshold to earn $1 for 1$ contribution. I earn gross about $40 000 per year from work only. 

Most helpful response

ATO Community Support

Replies 0

Hi @brenny

 

There isn't a $1 to $1 contribution. The highest co-contribution amount is $500 which requires a personal contribution of $1000, and requires you to meet the relevent income threshold.

 

You'll need to determine which threshold you fall into in order to estimate your co-contribution amount. Have a read through our page on co-contribution eligibility and you'll notice an income threshold test section. In this section you'll need to calculate your total income as per the instructions. One of the links available there will take you to the co-contribution income threshold table which lists the lower and upper threshold amounts for the current financial year. To be eligible for the full $500 amount your total income needs to be equal to or below the lower threshold amount. 

 

You'll also need to make sure you meet the 10% eligible income test too which can be found on the main page.

 

Hope this helps, let us know if you have any further questions.