Find extra money for super

Government Co-contribution (after tax)

Based on your income of $1,000 you can contribute $1,000 to your super after tax to get the maximum government co-contribution of $500.

Make sure you can say yes to all these eligibility criteria:

• Your total income for the financial year is less than $60,400
• 10% or more of your total income comes from your employment or from carrying on a business, or a combination of both
• You will be less than 71 years old at the end of the financial year
• You did not hold a temporary visa at any time during the financial year (unless you are a New Zealand citizen or it was a prescribed visa)
• You plan to lodge a tax return for this financial year
• Your super fund has your tax file number

Salary sacrifice (before tax)

You don't have to pay income tax on money you salary sacrifice to your super, instead a 15% contribution tax is paid from your super by your fund where you are earning up to $250,000 (annual income plus super contributions from your employer and salary sacrifice). We assume you are earning $250,000 or less in the financial year.

Based on your age, you can contribute up to $30,000 per year before tax - but this also includes all contributions your employer pays such as your 11.5% super guarantee.

Salary Sacrifice is arranged with your employer.

Superannuation contributions limits continue to apply and those aged 67-74 will need to meet a work test if they intend to claim a taxation deduction in relation to personal contributions made to super.