19 Jun 2017
Up to a 50% guaranteed return: Superannuation Co-contribution for 30 June 2017
- 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 2017, the Federal Government will add an additional sum provided that you are earning less than $51,021 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:
|
$36,021 or less
|
$1,000 |
$500 |
$39,000
|
$801 |
$401 |
$43,000
|
$535 |
$267
|
$47,000 |
$268 |
$134
|
$51,021 or more |
$0 |
$0
|
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