There is a range of eligibility criteria to fulfil to receive the co-contribution, with one of the most important being, of course, that you need to contribute to your super from your after-tax salary in order to receive a co-contribution from the government.
The amount you’ll receive is based on your income, and where it sits between the upper and lower thresholds for eligibility.
For the 2020/21 financial year, the lower threshold is $39,837 and the upper threshold is $54,837. The lower income threshold is indexed in line with average weekly ordinary time earnings (AWOTE) each income year, with the new indexed amount available each February. The higher income threshold is set at $15,000 above the lower threshold each year.
Your entitlement is reduced for every dollar earned over the lower threshold until you reach the upper threshold. If you earn below the lower threshold and contribute $1,000, for example, the government will contribute $500. If you earn $51,837 and contribute $1,000, the government will contribute $100.