The super co-contribution — free $500 from the government

How much you can get

• Maximum co-contribution: $500
• Matching rate: 50c for every $1 of after-tax contribution
• Full match if total income is below $45,400
• Phase-out between $45,400 and $60,400 (reduces by 3.333c per $1 over)
• Zero if total income is $60,400 or more

So to get the full $500, you need to make a $1,000 after-tax contribution and earn under $45,400. Smaller contributions still get matched at 50% — $400 in gets $200 back.

Worked example — Lauren, earning $42,000

Lauren works part-time while studying. She transfers $1,000 from her bank account to her super fund as an after-tax contribution before 30 June. After she lodges her tax return, the ATO deposits $500 directly into her super account. Total boost: $1,500 into super for $1,000 out of pocket — a 50% guaranteed return before any investment returns.

Eligibility checklist

• Total income below $60,400 for the financial year
• At least 10% of your income from employment or self-employment (the “10% test”)
• Under age 71 at the end of the financial year
• Australian resident for tax purposes for at least part of the year
• Lodged a tax return
• Total super balance under the general transfer balance cap ($1.9M)
• Non-concessional cap not exceeded

How to claim

You don’t apply — the ATO works it out automatically. Just:

1. Make the after-tax contribution to your super fund before 30 June
2. Give your fund your TFN (they can’t process the co-contribution without it)
3. Lodge your tax return
4. Wait 2–3 months — the ATO deposits the matching payment into your super fund

Co-contribution vs spouse contribution vs LISTO

You can potentially qualify for all three in the same year if circumstances line up.