You might be eligible to receive money from the government.
The Government co-contribution is designed to help eligible low and middle income earners boost their super. If you’re eligible and a make contribution to your super, you could receive a co-contribution from the Government of up to $500.
How does it work?
The Government co-contribution is designed to help low and middle income earners boost their super. If you earn less than $36,021 p.a. and make after-tax contributions of up to $1,000 in a financial year, the Government will match 50 cents for every $1 you contribute to super – up to a maximum of $500.
If your total income is more than $36,021 p.a. and less than $51,021 p.a. you may be eligible for a reduced co-contribution amount.
You don’t need to apply for the co-contribution. If you’re eligible and have lodged an income tax return, your co-contribution amount will be deposited into your account the following financial year.
Note: From 1 July 2017, you will no longer be able to receive the government co-contribution if you have a balance over $1.6 million.
General Advice Warning
This information on this website is provided by Motor Trades Association of Australia Superannuation Fund Pty Ltd (ABN 14 008 650 628, AFSL 238 718) of Level 3, 39 Brisbane Avenue BARTON ACT 2600, Trustee of the MTAA Superannuation Fund (ABN 74 559 365 913). Motor Trades Association of Australia Superannuation Fund Pty Ltd has ownership interests in Industry Super Holdings Pty Ltd and Members Equity Bank Limited (ABN 56 070 88 7 679).
The information contained in this website is correct at the time of publishing. It is of a general nature and does not take into account your objectives, financial situation or needs. Before acting on any of the information you should consider its appropriateness, having regard to your own objectives, financial situation and needs. If you are considering acquiring or continuing to hold a particular financial product, you should obtain the Product Disclosure Statement relating to the product and consider it before making any decision. The MTAA Super Product Disclosure Statement is available on this website, or by telephoning the Customer Service Centre on 1300 362 415.
This site is for general information purposes only and is not intended to be relied upon for the purpose of making an investment decision.
MTAA Super recommends that potential investors seek independent financial and taxation advice before making any investment decisions so as to determine whether an investment is appropriate, given the investor’s investment objectives, financial position and needs.
Applications for membership can only be made on the basis of the application form attached to the current PDS. Any person who gives another person access to the application form must at the same time and by the same means give the other person access to the relevant PDS and any supplementary document.