Helping you add to your super
If you’re on a lower income, you might be eligible to receive a $500 bonus into your super through the Commonwealth Government’s Co-Contribution Scheme.
All you need to do is make a voluntary after-tax contribution to your account, and for every dollar you pay in, you could get 50 cents from the Government (up to a maximum of $500).
How it works
If your total income for the 2020-21 financial year is less than $39,837 you’re probably eligible to receive the full co-contribution. The co-contribution payment is reduced on a sliding scale for every dollar of your total income over $39,837, and cuts out once your total income is more than $54,837.
Even if you’re self-employed, you could still receive the co-contribution.
How to make an after-tax contribution
To receive the co-contribution (assuming you are eligible), simply follow these steps:
- Login to Statewide Super Online or call us on 1300 65 18 65 to get your personal reference number and the relevant online payment details
- Make your contribution electronically via BPAY, ensuring you leave enough time so that we receive it before 30 June, and
- Lodge your tax return.
The Australian Tax Office will then calculate the co-contribution amount and pay it directly into your Statewide Super account.