Government co-contribution

Co-contribution from 1 July 2019
Eligible contributions	Personal NCCs made to complying fund for purpose of providing super benefits. Individual must not have excess NCCs
Minimum earnings (10%) test	Assessable income, RESC & reportable fringe benefits total derived as an employee or carrying on a business Total assessable income, RESC & reportable fringe benefits total ³ 10%
Tax return	Tax return for financial year must be lodged
Age limit	Less than age 71 on last day of financial year
Residency	Must not hold eligible temporary resident visa
Total superannuation balance	Less than $1.6 million as at 30 June of prior financial year
Income limit	Income must be less than $53,564
Amount payable	Income: $0 – $38,564	Lesser of: eligible contributions x 50%, and $500
	Income: $38,564 – $53,564	Lesser of: eligible contributions x 50%, and $500 reduced by $0.03333 per $1.00 greater than $38,564 Minimum amount payable is $20

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