Super co-contributions

For every $1 you contribute to your super the government will contribute up to a maximum of $1,000 per year if your income is less than $31,920. The government co-contribution gradually reduces for incomes over this amount and phases out completely at $61,920.

The co-contribution rates are as follows:

 _{* This information is based on the changes announced by the government in the 2011/12 budget. They are subject to the passing of the budget and any required amendments to applicable legislation.}

How to qualify for the super co-contribution?

To be eligible you must meet all of the following criteria:

• Make an after-tax personal superannuation contribution (above the 9% your employer pays) to a complying superannuation fund. CareSuper is a complying fund, of course!
• Your total income (includes assessable income, reportable fringe benefits and reportable employer superannuation contributions) is less than $61,920
• Earn at least 10% of your income from eligible employment or operating a business
• Be a permanent resident or citizen of Australia for the entire financial year
• Lodge an Australian income tax return for the financial year, and
• Be less than 71 years old at the end of the financial year.

Making a personal contribution is easy to do.

All you have to do is make a personal superannuation contribution before 30 June this year - write a cheque to CareSuper, transfer funds by BPAY®, or organise a direct debit. If you haven't made BPAY contributions before, call the CareSuperLine for your customer reference number. The biller code will be 929893. For more information on making contributions click here. You could also consider setting up a regular deduction which is taken out of your pay or direct debit as a personal superannuation contribution, so that you don't have to find a lump sum every year to take advantage of the co-contribution.

To set up direct debit contributions, simply complete the CareSuper Direct debit form.
Alternatively speak to your employer about deducting regular after-tax contributions from your pay.

Receiving your contribution

Your co-contribution will automatically be paid into your super account after: you’ve lodged your tax return at the end of the financial year, your super fund has lodged a member contribution statement for you (which generally takes place by 31 October), and the ATO has received any additional information required. You’ll then receive a letter from the ATO confirming your co-contribution amount has been paid to your super fund.

Your co-contribution payment may not be received into your super account in time for your annual statement, so remember you can use MemberOnline at any time to keep track of your account. To register for MemberOnline go to the Member login located at the top right of our homepage or call 1300 360 149.

Calculate how much you could receive from the government

Use the table below as a guide to see what co-contribution you could be eligible for the 2010/11 financial year. For a more accurate calculation, check out our super co-contribution calculator here.

_{*Disclaimer
This information is based on the changes announced by the government in the 2011/12 budget. They are subject to the passing of the budget and any required amendments to applicable legislation. You should not make any decisions based on this information without consulting a professional financial adviser. Accordingly CARE Super Pty Ltd and its directors, officers, employees and associates make no representation in respect of, and, to the extent permitted by law, exclude all warranties in relation to the accuracy, currency or completeness of the information provided. CARE Super Pty Ltd and its directors, officers, employees and associates accept no liability whatsoever (including by way of negligence) for any loss or damage, however caused, as a result of any person relying , in whole or in part, on any information provided.}