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Super co-contribution

The super co-contribution is a payment made by the Commonwealth Government into your super account to encourage you to save for retirement, and could make a difference to your retirement income.

The government will contribute 50 cents for each $1 you contribute, up to a maximum of $500 per year. To receive the maximum co-contribution, your total income1 must be no more than $34,488 in 2014/2015. The super co-contribution progressively reduces for incomes over these amounts.

How much could I get?

The table below outlines the phasing-out scale for the 2014/2015 financial year for incomes exceeding $34,488.

Total income1 After-tax contribution required for
maximum super co-contribution
Maximum super co‑contribution 2014/2015
$34,488 $1,000 $500
$39,488 $666 $333
$44,488 $334 $167
$49,488 $0 $0

Find out how much you may be eligible for by using our
Co-contribution calculator
.

Note

For Queensland Government employees – If you meet eligibility criteria (see FAQs below) and are making after-tax standard member contributions (usually 5% of salary), you will automatically be considered for super co-contributions by the ATO.

For non-Queensland Government employees – If you meet the eligibility criteria, you will need to make an after-tax contribution to superannuation to be considered for the super co-contribution by the ATO.

For members salary sacrificing – Contributions made via salary sacrifice are not regarded as qualifying contributions for the super co-contribution. If you are salary sacrificing your standard contributions, you may need to make extra after-tax voluntary contributions to qualify for the co-contribution. You can do this by:

  • making a lump sum after-tax voluntary contribution, or
  • arranging with your pay office to make additional after-tax voluntary contributions from your pay.

FAQs

 

Who is eligible for the super co-contribution?

To be eligible you must meet all of the following criteria:

  • your total income1 is less than $49,488 in 2014/2015
  • you have made an after-tax contribution before 30 June of the financial year
  • 10% or more of your total income1 has been earned from eligible activities, including being an employee, running a business, or both2
  • you are under age 71 at the end of the income year
  • you have not held an eligible temporary resident's visa at any time during the financial year
  • you have lodged a tax return for the financial year
  • you are not the holder of a temporary visa
  • you have provided QSuper with your tax file number.

You should be aware spouse contributions aren't included when assessing eligibility for the super co-contribution, and the co-contribution does not count towards the contributions caps.

Do I need to apply for the super co-contribution?

No. Simply lodge your income tax return as normal. The Australian Taxation Office (ATO) will use the information on your income tax return, and contribution information from your super fund, to work out whether you are eligible.

If you are eligible, the ATO will automatically calculate the super co-contribution amount and deposit it into your super account.

1. Total income is assessable income, reportable fringe benefits, and reportable employer superannuation contributions.
2. Eligible employment is where a person is treated as an employee for superannuation guarantee purposes. Members whose only income is from sources such as rentals, investments, or income streams will not generally be eligible for the co-contribution as none of their income is from eligible employment.
® Registered to BPAY Pty Ltd ABN 69 079 137 518

How do I make an after-tax contribution?

To make an after-tax contribution, you can either:

  • BPAY® – use details from your latest benefit statement to make a payment via internet or telephone banking. If you don't have your latest benefit statement, call us.
  • Cheque or money order – complete a Deposit form, attach a cheque or money order, and send to QSuper.
  • In person – visit one of our branches and make a deposit in person by cheque, cash, or EFTPOS.*
  • From your pay - contact your pay office and arrange an after-tax contribution directly from your pay.

*Deposits by cash are limited to $1,000.

I want to...

Make a deposit
Deposit form

How much will you get?
Co-contribution calculator

Change my standard contributions^
Request to vary
contributions form

^Queensland Government and related entity employees only.