Government co-contribution
Boost your super savings with a free top up from the Government!
What is the Government co-contribution?
The co-contribution is a Government initiative to encourage people to contribute extra into their super. If you earn less than $61,920 p.a. and make an after-tax contribution, you may be eligible to receive a Government co-contribution of up to $1,000.
How much can you get?
The amount the Government will pay into your super account depends on your income and how much you contribute. If you earn $31,920 p.a. or less, the Government will match your contribution dollar for dollar, up to a limit of $1,000.
For every dollar you earn over $31,920, the Government contribution reduces by 3.33 cents in the dollar and cuts out completely if you earn $61,920 p.a. or more.
Use our Government Co-contributions calculator to find out how much you need to contribute.
Are you eligible?
To receive the Government co-contribution, you must meet all of the following criteria:
- earn less than $61,920 p.a. (in assessable income plus reportable fringe benefits and salary sacrifice amounts)
- make a personal after-tax contribution to your TWUSUPER account by 30 June
- have provided your Tax File Number to TWUSUPER
- lodge a tax return for the financial year in which contributions are made
- be younger than 71 at the end of the financial year in which contributions are made
- earn at least 10% of your income as an employee or from running a business, or a combination of both
- be a permanent resident of Australia (there are some exceptions).
How do you get the super top up?
If you’re eligible, all you have to do to receive the Government co-contribution is to make an after-tax contribution to your TWUSUPER account and lodge your tax return for the financial year that you made the contribution.
The Australian Taxation Office (ATO) will then calculate your co-contribution and pay it directly into your super account.
You don’t need to apply or fill in any forms to receive the co-contribution – if you are eligible, it will be paid to your super account automatically.
Next steps
See Making contributions for details