If you’re a low or middle-income earner in Australia, you could be missing out on free money from the government to help grow your retirement savings.
The superannuation co-contribution scheme is designed to reward those who make personal (after-tax) contributions to their super fund. And the best part? You could receive up to $500 annually — no strings attached.
What Is the Super Co-contribution?
The Superannuation Co-contribution Scheme is an Australian Government initiative that helps eligible individuals top up their super by matching a portion of their after-tax contributions.
If you meet the income and other eligibility criteria, the government will contribute 50 cents for every $1 you add to your super fund from your take-home pay, up to a maximum of $500 per year.
Who Is Eligible?
To qualify for the co-contribution in the 2024–25 financial year, you must:
- Earn less than $58,445 in total income.
- Make a personal (after-tax) super contribution during the financial year.
- Be less than 71 years old at the end of the financial year.
- Not exceed the non-concessional contributions cap.
- Have a total super balance under $1.9 million at 30 June of the previous financial year.
- Earn 10% or more of your income from employment or self-employment.
- Lodge your tax return for the year.
Income Thresholds (2024–25)
| Total Income | Maximum Co-contribution |
|---|---|
| $43,445 or less | $500 |
| $43,446 to $58,444 | Tapered amount |
| $58,445 or more | $0 (not eligible) |
Example
If your income is $40,000 and you contribute $1,000 to your super fund from after-tax income, the government will add $500 to your super.
If your income is $50,000, your co-contribution would be reduced, but you might still receive a partial amount ($281.50).
Use a Calculator to Estimate Your Benefit
Want to know exactly how much you could receive?
Try our free Super Co-contribution Calculator to get an instant estimate based on your income and contribution amount.
Other Information
- The ATO pays the co-contribution directly into your super fund once you lodge your tax return.
- There’s no need to apply — just make the contribution and meet the criteria.
- Make sure your super fund has your tax file number (TFN) so the contribution can be processed.
Conclusion
The super co-contribution is a simple and effective way to supercharge your retirement savings — especially if you’re working part-time, self-employed, or early in your career.
A small effort today could lead to a significantly larger nest egg tomorrow.
Have you made your contribution this year?
Check your eligibility now with the Super Co-contribution Calculator.