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Government co-contributions - a little from you; a little from them

The government co-contribution is a bonus contribution made by the government for those who qualify, designed to help people on lower incomes boost their super savings. If you’re eligible, you must first make a personal after-tax contribution to your super account before the end of the financial year, in order to receive it.

Boost your super (PDF)   

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 $38,564 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 $53,564.

Earn more than $53,564 but keen to add to your super? Smart thinking! You might benefit from making salary sacrifice contributions.


Your employer Superannuation Guarantee contributions, salary sacrifice contributions, personal deductible contributions and spouse contributions do not qualify you for the co-contribution.


Do I qualify?

To be eligible for the government co-contribution in the 2019/20 financial year, you need to:

  • earn less than $53,564 a year
  • earn at least 10% of your total income from operating a business or as an employee, or both
  • not be a temporary resident of Australia at any time during the year (an exception applies for New Zealand citizens)
  • be less than age 71 at the end of the financial year
  • satisfy the work test if you are 65 years of age or more (which means you would have worked a minimum of 40 hours within 30 consecutive days in the current financial year).
  • lodge an income tax return for this financial year
  • had a total super balance of less than $1.6 million on 30 June 2019
  • make an after-tax contribution into your VicSuper account but don’t exceed the after-tax (non-concessional) contributions cap
  • Contributions must be received into your super account by Tuesday 30 June 2020 to be eligible for the current financial year, please allow sufficient time for your financial institution to process your payments by then.

How much can I get? 

If you’re eligible for the government co-contribution, how much you’ll get depends on how much you add to your own super in personal after-tax contributions, and your total income for that financial year. The co-contribution then reduces as your income increases, scaling down until it cuts out completely at an income level of $53,564.

At its maximum, for every dollar you contribute, the government will add a further 50 cents to your super, up to a maximum of $500 per financial year. To receive the full $500, you must earn $38,564 or less, and make a personal contribution of $1,000 or more.


  • Decide which contribution is right for you

    Decide which contribution is right for you

    Our online Beeline service can help you understand whether a before or after-tax contribution is right for you, if you’re a VicSuper member just login to Beeline – our online personalised guidance and advice service. 

    Give our team a call on 1300 366 216 for professional financial advice. In most cases, this type of advice for members is at no extra charge. 

    Try Beeline  Get advice

  • Make a contribution

    Make a contribution

    There are lots of ways to make a personal after-tax contribution to your VicSuper account.

    Payment options

     


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