Who exactly is eligible for the super co-contribution?
You are eligible if you:
- have an income1 less than $49,488 in 2014/2015
- make an after-tax contribution before 30 June of the financial year
- have earned 10% or more of your total income1 from eligible activities, including being an employee, running a business, or both2
- are under 71 at the end of the income year
- haven’t held an eligible temporary resident's visa at any time during the financial year
- have lodged a tax return for the financial year
- have provided QSuper with your tax file number.
Spouse contributions aren’t included when assessing eligibility for the super co-contribution, and the co-contributions don’t count towards the contribution caps.
Do I need to apply for the super co-contribution?
No. It’s all done automatically when you lodge your tax return as normal. The ATO will use the information on your tax return to work out whether you’re eligible and, if you are, deposit the co-contribution directly into your super account.