21 May 2018
Up to a 50% guaranteed return: Superannuation Co-contribution for 30 June 2018
- Posted by Dejan Pekic BCom DipFP CFP GAICD, Senior Financial Planner
The Federal Government Co-contribution was introduced from 1 July 2003 as an initiative to encourage low to middle income earners to save for their retirement within superannuation.
If you make a contribution of up to $1,000 into your superannuation account before 30 June 2018, the Federal Government will add an additional sum provided that you are earning less than $51,813 this financial year.
The table below shows you how much the Federal Government will contribute for various amounts.
|
If your total
annual
income is:
|
…and you make
personal contributions of: |
…then the maximum Government
co-contribution is: |
|
$36,813 or less
|
$1,000 |
$500 |
|
$39,813
|
$800 |
$400 |
|
$42,813
|
$600 |
$300
|
| $45,813 |
$400 |
$200
|
| $48,813 |
$200 |
$100
|
| $51,813 or more |
$0 |
$0
|
Click for super co-contribution calculator.
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