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Re: super co-contribution eligibility

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Hi,

I am on a student visa (graduated) at the moment. I have applied for a partner visa and I will be on my Bridging visa with full working rights for FY19-20. Am I eligible for the super co-contribution or will this bridging visa once activated be considered a temporary visa and I would not be qualified? 

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ATO Certified

TaxTime Support

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Hi @rachx

 

Welcome to our Community.

 

@Bruce4Tax is exactly right. You need to meet all of the criteria that @Bruce4Tax has listed.

 

You can check out the super co-contribution page on our website for more information about how the co-contribution works and what the eligibility criteria are.

 

You can't hold an eligible temporary resident visa at any time during the applicable year, unless you are a New Zealand citizen or holder of a prescribed visa.

 

Just in case you were wondering, prescribed visas as described in Schedule 2 of the Migrations Regulations 1994 include

  • Subclass 405 (Investor Retirement)
  • Subclass 410 (Retirement).

 

Even if you only held a temporary resident visa for one day, this would be enough for you to be considered ineligible for the super co-contribution.

 

To be sure, as @Bruce4Tax has recommended, get in touch with the Department of Home Affairs for more information about your visa.

 

Hope this helps.

 

Thanks,

 

ChrisR

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Devotee Registered Tax Practitioner

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ATO website says that:

 

Eligibility for the super co-contribution

To be eligible for a government super co-contribution you must:

  • have made one or more eligible personal super contributions to your super account during the financial year
  • pass the two income tests (income threshold and 10% eligible income tests)
  • be less than 71 years old at the end of the financial year
  • not hold a temporary visa at any time during the financial year (unless you are a New Zealand citizen or it was a prescribed visa)
  • lodge your tax return for the relevant financial year
  • have a total superannuation balance less than the transfer balance cap ($1.6 million for the 2017–18 financial year) at the end of 30 June of the previous financial year, and
  • not have contributed more than your non-concessional contributions cap.

 

So, you need to talk to the visa people to determine whether you held    a temporary visa at any time during the financial year.

 

Best answer

ATO Certified

TaxTime Support

Replies 0

Hi @rachx

 

Welcome to our Community.

 

@Bruce4Tax is exactly right. You need to meet all of the criteria that @Bruce4Tax has listed.

 

You can check out the super co-contribution page on our website for more information about how the co-contribution works and what the eligibility criteria are.

 

You can't hold an eligible temporary resident visa at any time during the applicable year, unless you are a New Zealand citizen or holder of a prescribed visa.

 

Just in case you were wondering, prescribed visas as described in Schedule 2 of the Migrations Regulations 1994 include

  • Subclass 405 (Investor Retirement)
  • Subclass 410 (Retirement).

 

Even if you only held a temporary resident visa for one day, this would be enough for you to be considered ineligible for the super co-contribution.

 

To be sure, as @Bruce4Tax has recommended, get in touch with the Department of Home Affairs for more information about your visa.

 

Hope this helps.

 

Thanks,

 

ChrisR

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