Under this scheme, the Government matches non-concessional contributions made by low-income earners up to a maximum of $500 per annum for every $1,000 of personal contributions made. You must have a total super balance below the general transfer balance cap to receive the co-contribution.
The $500 maximum co-contribution is reduced by 3.33 cents in the dollar for income levels above $38,564 (2019/20 financial year). Individuals earning in excess of $53,564 per annum are not eligible for an entitlement.
The Government’s co-contribution is classified as a non-concessional contribution however it is not assessed against the non-concessional contributions cap.