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Grow your super with a bonus from the government
If you earn less than $43,445 a year and make an after-tax contribution to your super in 2023-24, the government may add up to $500 extra to your super. This is called the government's super co-contribution.
By making a contribution, you can earn yourself a government bonus:
Any extra contributions you make now create a big difference to how much you end up with over time.
The government adds money to your super depending on how much you add.
If you're eligible and earn under $43,445 in the 2023-24 financial year, and you make an after-tax contribution, the government pays up to $500 into your super. So they pay 50 cents for every $1 that you contributed yourself.
If you earn between $43,445 and $58,445, you may still be eligible for a partial co-contribution. The more you earn, the less the government contributes to your super – and over $58,445 per year, you can't receive the co-contribution.
You also need to earn 10% of your income from your employers and/or running your own business.
This table shows how much you need to contribute to get the maximum government co-contribution.
Work out how much extra you could get with our Co-contribution Calculator.
To make sure you get the government's matching co-contribution, you need to:
After you lodge your tax return, the Australian Taxation Office (ATO) calculates the co-contribution and pays it to your QSuper account.
You won't be able to get the co-contribution if:
Want to be eligible for the government co-contribution? You can make after-tax contributions as a once-off deposit or as regular payments:
If you have a QSuper account, you can get personal financial advice over the phone about the best way to get the most from your super. Find out more.
Other options for low income earners may include making before-tax contributions to claim the low income super tax offset (LISTO), or claiming a tax deduction for your after-tax contribution instead.
Depending on how much you earn, they do contribute when you do. It's not an exact match, because they pay 50c for every $1 you pay, up to $500 (where you paid $1,000), if you earn less than the super co-contribution income thresholds.
In 2023-24, you can get the super co-contribution if you're eligible and you earn less than $43,445 in that financial year.
If you earn between $43,445 and $58,445, you may still be eligible for a partial co-contribution.
Once you're earning more than $58,445 a year, you can't get the co-contribution.
The second income test for the super co-contribution is that you need to earn 10% of your income from your employers and/or running your own business.
To make sure you get the government's matching co-contribution, you need to be a low income earner, add money to your super, and lodge your tax return.
You also need to be:
Finally, you need to make sure you make the right type of contribution to be eligible for the super co-contribution: an after-tax contribution (money from your bank) or standard member contribution, not a spouse contribution or a contribution you're claiming a tax deduction for.
If you meet all of these conditions, you're eligible to get the super co-contribution once a year.
Learn more about the ways you can grow your super.
No, you don't pay the super contributions tax or income tax on this payment from the ATO into your QSuper account. So it is a tax-free payment and does not affect your taxable income.
As for the money you add to your QSuper account, you'll be making an after-tax contribution, which means it's money in your bank that you've already paid income tax on. So before-tax payments (e.g. salary sacrifice or after-tax contributions where you claim a tax deduction) don't get the government's co-contribution.
When talking about super, a contribution means adding money to your super account. You, your employer, your spouse, or the government can all make contributions to your super fund.
There are some things you can check if you want to grow your super on a low income:
And to really make the most of your super, QSuper members can get personal financial advice over the phone.
You can also try our online learning modules (no cost, designed for members), with classes on managing debt, understanding super and investing, and more.
If you're a low income earner, make a contribution to your super using the details in Member Online or contact your payroll office to set up regular payments.
We make it easy to grow your super. Explore our benefits and find out why so many people choose a QSuper account.
1. Based on your total income for the financial year, which is the total of your assessable income. Plus: any reportable fringe benefits total, and total reportable super
contributions (minus any excess concessional contributions). Less: your assessable first home super saver released amount, and any allowable business deductions.
®Registered to BPAY Pty Ltd ABN 69 079 137 518.
Tamara works part-time as a nurse and earns a salary of $30,000 per year.
Tamara has some savings and makes an after-tax voluntary contribution of $1,000 to her super before 30 June.
After she lodges her tax return, the government also pays a $500 co-contribution directly to her QSuper Accumulation account – giving her savings a boost for the future.