Changes to Super Co-contributions

The super co-contribution matching rates for eligible personal super contributions have been temporarily reduced as part of the 2009 Federal Budget.

If you make eligible personal super contributions to a complying super fund or retirement savings account and you meet all the eligibility requirements, the rate at which your contributions are matched and the maximum super co-contribution amount paid will be temporarily reduced.

The new super co-contribution matching rates will be:
  • 100% ($1.00 for every $1.00) for the 2009-10, 2010-11 and 2011-12 financial years, with a maximum super co-contribution of $1,000.
  • 125% ($1.25 for every $1.00) for the 2012-13 and 2013-14 financial years, with a maximum super co-contribution of $1,250.
  • 150% ($1.50 for every $1.00) from 2014-15 onwards, with a maximum super co-contribution of $1,500.

The maximum super co-contribution paid reduces as your income increases, phasing out when you reach the higher income threshold.

The higher income threshold for the 2009-10 financial year is $61,920. The income thresholds are indexed annually in line with average weekly ordinary time earnings (AWOTE).

(Source: ATO)

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