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Dear <<First Name>>,

Give your super a helping hand and take advantage of the Federal Governments “co-contribution” super scheme. The government will pay up to $500 TAX FREE directly into your super account.

If you have employment income of less than $35,454 this financial year and make an after-tax contribution to super of $1,000 you are then entitled to a Government co-contribution to your super fund of up to $500.

Your salary level is calculated before any pre-tax super packaging.

The co-contribution tapers out once you earn more than $35,454 and ceases above $50,543.

Please see below Super Co-Contribution table in detail (source from AMP).

To be eligible for the government co-contribution, you need to meet below criteria:

  • Make personal after-tax (non-concessional) contributions to your super
  • Receive at least 10% of your assessable income from employment or self-employment activities
  • Lodge an income tax return
  • Have given your tax file number to your super fund
  • Be less than 71 years old at the end of the financial year
  • Have not been a temporary resident of Australia for any part of the financial year

You can calculate the correct contribution amount here.

If you wish to co-contribute, please ensure funds are paid by Monday 27th June 2016.

With Compliments,

Denise Locantro
Associate Director
Wealth Management

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