Superannuation Co-contribution Income Thresholds
The way your superannuation co-contribution is determined will depend on the financial year in which you made your personal superannuation contributions.
For the income threshold purpose your total income (less business deductions in the 2008 and later years) is the sum of your assessable income, your reportable fringe benefits and your reportable employer super contributions (for the 2010 and later financial years). *
| Lower income threshold | Higher income threshold | What will I receive for every $1 of personal super contributions? | What is my maximum entitlement? | |
| From 1 July 2009 until 30 June 2010 | $31,920 | $61,920 | $1 for every $1, up to a maximum super co-contribution of $1,000 a year. | Your maximum entitlement is $1,000. However, you must reduce this by 3.333 cents for every dollar your total income, less business deductions is over $31,920, up to $61,920. |
| From 1 July 2008 until 30 June 2009 | $30,342 | $60,342 | $1.50 for every $1, up to a maximum super co-contribution of $1,500 a year. | Your maximum entitlement is $1,500. However, you must reduce this by 5 cents for every dollar your total income, less business deductions is over $30,342 up to $60,342. |
| From 1 July 2007 until 30 June 2008 | $28,980 | $58,980 | $1.50 for every $1, up to a maximum super co-contribution of $1,500 a year. | Your maximum entitlement is $1,500. However, you must reduce this by 5 cents for every dollar your total income, less business deductions is over $28,980, up to $58,980. |
| From 1 July 2004 until 30 June 2007 | $28,000 | $58,000 | $1.50 for every $1, up to a maximum super co-contribution of $1,500 a year. For the 2005-06 financial year, an additional one-off payment, doubling your co-contribution was made. | Your maximum entitlement is $1,500. However, you must reduce this by 5 cents for every dollar your total income is over $28,000, up to $58,000. |
| From 1 July 2003 until 30 June 2004 | $27,500 | $40,000 | $1 for every $1, up to a maximum super co-contribution of $1,000 a year. | Your maximum entitlement is $1,000. However, you must reduce this by 8 cents for every dollar your total income is over $27,500, up to $40,000. |
Source: ATO 2010
*Other conditions do apply.
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February 2010
