Depending on income levels and the amount of money going into your super, you may qualify for a tax offset or super contribution from the Government. You don't even need to apply – the Australian Taxation Office will work it out from your tax return and make any payment you're eligible for.
- Low-income superannuation tax offset
If you earn less than $37,000 in a year, you qualify for a Government refund of up to $500 on the 15% tax paid on before-tax contributions that you or your employer make to your super. The Government contributes the refund directly to your super.
- Spouse contribution offset
If your spouse is not working or earns less than $40,000 a year and you make after-tax contributions to their super, you will receive a tax offset of 18 cents for each $1 you contribute. The maximum offset is $540 for contributions of $3,000 if your spouse’s income is $37,000 or less. The offset reduces for spouse income above $37,000 a year and cuts out for income above $40,000. See our Spouse contribution factsheet for more information.
See our Spouse contribution factsheet
for more information.
- Government co-contributions
Each year, the Government's co-contribution scheme could mean up to $500 extra towards your retirement nest egg. If your total income is less than $52,697 (in the 2018/19 financial year) and you make after-tax contributions to your super, the Government will boost your super with a co-contribution of 50 cents for every $1 of those contributions up to a maximum co-contribution of $500.