Get free money with the government co-contribution
Where can you get a 100% return on your savings? Boost your
superannuation with the government co-contribution! If you earn
less than $61,920 during the 2011/12 financial year and make a
personal after-tax superannuation contribution, the government will
match your money up to $1,000.
How do I qualify for the government co-contribution?
To qualify, you must meet the following criteria before 30 June
2012:
- earn less than $61,920 p.a.
- obtain 10% or more of your income from eligible employment
(check the ATO's
website for more information)
- be a permanent Australian resident
- lodge an income tax return for the relevant financial year
- be under 71 years of age
- make your own personal after-tax contributions to your super
(see Voluntary contributions for
more information
- make sure Intrust Super has your tax file number.
It's easy to make personal contributions
You can drip feed payments into your account on a regular basis
or make a one-off payment whenever you like. Payments can be made
via direct debit, BPay, cheque or regular employer payroll
deductions. See Voluntary contributions for
more information.
What happens next?
Your government co-contribution is calculated after you lodge
your tax return. Once you've lodged your return, the Tax Office
will work out your co-contribution entitlement and then pay it
straight into your Intrust Super account. Easy!
How much could I receive?
| If your voluntary contribution is: |
$1,000
(or $19.24 per week) |
$800
(or $15.39 per week) |
$500
(or $9.62 per week) |
$200
(or $3.85 per week) |
| And your income is: |
Your government co-contribution is: |
|
|
|
| $31,920 or less |
$1,000 |
$800 |
$500 |
$200 |
| $34,921 |
$900 |
$800 |
$500 |
$200 |
| $37,921 |
$800 |
$800 |
$500 |
$200 |
| $40,921 |
$700 |
$700 |
$500 |
$200 |
| $43,922 |
$600 |
$600 |
$500 |
$200 |
| $46,922 |
$500 |
$500 |
$500 |
$200 |
| $49,922 |
$400 |
$400 |
$400 |
$200 |
| $52,922 |
$300 |
$300 |
$300 |
$200 |
| $58,923 |
$100 |
$100 |
$100 |
$100 |
| $61,920 or more |
$0 |
$0 |
$0 |
$0 |
Source: ATO
Don't miss out on free money!
Remember, we must have your tax file number (TFN) to accept any
personal contributions to your superannuation account.
Also, if we don't have your TFN on file, you could be paying
more tax than you need to. To give us your TFN, log in to MemberAccess, download a
TFN
Declaration Form or contact us - we'd hate to see you miss
out!