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CoContributions

How it works

The Government matches $0.50 for every $1 you contribute to super from your after tax savings up to a maximum of $500.

To receive the full $500 you must earn $35,454 or less and make a personal contribution of $1,000 or more. The co-contribution reduces as your income increases, and cuts out completely at $50,454.

How to claim it

When you lodge your tax return, the Australian Taxation Office (ATO) will look at your income and any contributions you have made into super.

If you’re eligible, the ATO will automatically pay the money into your super account.

Who can get it

To be eligible for the Government co-contribution for this financial year you must:

  • make a personal (after tax) contribution by 30 June 2016
  • have a total income under $50,454
  • earn more than 10% of your gross total income as an employee or from operating a business (or both)
  • be a permanent Australian resident and not hold a temporary resident visa at any time during the year (specific rules apply for New Zealand citizens)
  • be under age 71 at 30 June 2016
  • lodge a tax return for the 2015/16 financial year.

Want to make a personal contribution?

It's quick and easy. You can add to your super in the following ways:


BPAY - Most members choose this option!

Use the BPAY information in your email to transfer your personal contribution directly into your super account, either using your financial institution's online or phone banking service. Confirm your bank's processing cut-off times to ensure VicSuper receives your personal contribution by 30 June 2016.

Cheque

1.Download and complete the make a personal contribution form

2.Prepare a cheque made payable to VicSuper

3.Send back your form and cheque to VicSuper, GPO Box 89, Melbourne, VIC 3001. VicSuper must receive your cheque by 30 June 2016.

How much can I get?

Your total annual income  Personal contribution you should make   Resulting Government co-contribution
$35,454 $1000   $500
$38,454  $800  $400
$42,454  $533   $267
$46,454  $267  $133
$50,454 and over  $0  $0

How will I receive the super co-contribution?

1. If you’re eligible, the ATO will automatically match information from your tax return with information provided by VicSuper.

2. The co-contribution will be paid into your super account during the 2016/17 financial year and will be preserved until you meet a condition of release.

3. The co-contribution will generally be deposited into the super account with the most personal contributions you made this financial year, or which received a co-contribution previously (if applicable). To specify the super account your co-contribution will be paid to, download a ‘Superannuation fund nomination’ form.

Need help or have any questions about making a contribution, please call VicSuper Member Centre on 1300 366 216. 

To speak to a financial planner, click here to make an appointment. 

*Eligibility criteria apply. The amount of government contribution you can receive depends on how much you contribute and your level of income.     

How will I receive the super co-contribution? 

How will I receive the super co-contribution? 

Want to make a personal contribution?

It's quick and easy. You can add to your super in the following ways:


BPAY - Most members choose this option!

Use the BPAY information in your email to transfer your personal contribution directly into your super account, either using your financial institution's online or phone banking service. Confirm your bank's processing cut-off times to ensure VicSuper receives your personal contribution by 30 June 2016.

Cheque

1.Download and complete the make a personal contribution form

2.Prepare a cheque made payable to VicSuper

3.Send back your form and cheque to VicSuper, GPO Box 89, Melbourne, VIC 3001. VicSuper must receive your cheque by 30 June 2016.

How much can I get?

Your total annual income  Personal contribution you should make   Resulting Government co-contribution
$35,454 $1000   $500
$38,454  $800  $400
$42,454  $533   $267
$46,454  $267  $133
$50,454 and over  $0  $0

How will I receive the super co-contribution?

1. If you’re eligible, the ATO will automatically match information from your tax return with information provided by VicSuper.

2. The co-contribution will be paid into your super account during the 2016/17 financial year and will be preserved until you meet a condition of release.

3. The co-contribution will generally be deposited into the super account with the most personal contributions you made this financial year, or which received a co-contribution previously (if applicable). To specify the super account your co-contribution will be paid to, download a ‘Superannuation fund nomination’ form.

Need help or have any questions about making a contribution, please call VicSuper Member Centre on 1300 366 216. 

To speak to a financial planner, click here to make an appointment. 

*Eligibility criteria apply. The amount of government contribution you can receive depends on how much you contribute and your level of income.     

How will I receive the super co-contribution? 

How will I receive the super co-contribution? 

Icon phoneTo discuss your eligibility or any other general queries, please call our Member Centre on 1300 366 216.

Icon for appointmentTo speak to a financial planner, click here to make an appointment.

Icon phoneTo discuss your eligibility or any other general queries, please call our Member Centre on 1300 366 216.

Icon for appointmentTo speak to a financial planner, click here to make an appointment.