Government super co-contribution

By making your own personal contribution into super, the Government could give you a co-contribution of up to $500.

The Government wants us to save for our retirement so it’s created the Government co-contribution to reward people for adding a bit more.

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 $36,021 or less and make a personal (after-tax) contribution of $1,000 or more. The co-contribution reduces as your income increases, and cuts out completely at $51,021.

Earn more than $51,021 but keen to add to your super?

Smart thinking! You might benefit from making salary sacrifice contributions.


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 2017
  • have a total income under $51,021
  • 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 2017
  • lodge a tax return for the 2016/17 financial year.

*Visit the ATO website to find out what makes up your total income.


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.


Want to make a personal contribution?

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

Icon for BPAY

 Online via BPAY®

Transfer money directly from your bank account to your VicSuper account using BPAY®.

To get the BPAY® Biller Code and your unique reference number to use for your internet or phone banking, login to your account, or call us on 1300 366 216.

Not registered for VicSuper MembersOnline?  You can register here

Icon for cheque

 Cheque or Money Order

Download a Make a personal contribution directly to VicSuper (including self-employed contributions) form, and send your completed form along with your cheque or money order to: 

VicSuper,
GPO Box 89,
Melbourne VIC 3001

By making your own personal contribution into super, the Government could give you a co-contribution of up to $500.

The Government wants us to save for our retirement so it’s created the Government co-contribution to reward people for adding a bit more.

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 $36,021 or less and make a personal (after-tax) contribution of $1,000 or more. The co-contribution reduces as your income increases, and cuts out completely at $51,021.

Earn more than $51,021 but keen to add to your super?

Smart thinking! You might benefit from making salary sacrifice contributions.


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 2017
  • have a total income under $51,021
  • 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 2017
  • lodge a tax return for the 2016/17 financial year.

*Visit the ATO website to find out what makes up your total income.


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.


Want to make a personal contribution?

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

Icon for BPAY

 Online via BPAY®

Transfer money directly from your bank account to your VicSuper account using BPAY®.

To get the BPAY® Biller Code and your unique reference number to use for your internet or phone banking, login to your account, or call us on 1300 366 216.

Not registered for VicSuper MembersOnline?  You can register here

Icon for cheque

 Cheque or Money Order

Download a Make a personal contribution directly to VicSuper (including self-employed contributions) form, and send your completed form along with your cheque or money order to: 

VicSuper,
GPO Box 89,
Melbourne VIC 3001

We have already started to make changes and am very happy with the service we have had with VicSuper.

Caroline Member comment after meeting one of our financial planners