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  • Take advantage of the government co-contribution scheme

Depending on your circumstances, the government can make additional contributions to your super for you. 

Super co-contributions can help boost your super savings if you’re a low or middle-income earner. To be eligible, you need to be making personal after-tax contributions to your super fund.

The government will match your contributions (called co-contributions) with 50 cents for each dollar you contribute, up to a maximum of $500 per annum.

The easy part is you don’t need to apply for a super co-contribution. The ATO will determine whether you’re eligible when you lodge your tax return, as long as your super fund has your tax file number (TFN) on file. If you’re eligible, the co-contribution will be paid to you super account automatically.

For more information on the eligibility requirements visit the ATO website.

This article was previously prepared and published by AIA Australia Limited ABN 79 004 837 861 (AIA Australia) prior to Resolution Life’s acquisition of AIA Australia’s Superannuation & Investment life insurance business on 1 July 2023.

Important information

Where the information on this website is factual information only, it does not contain any financial product advice or make any recommendations about a financial product or service being right for you. Any advice is provided by Resolution Life Australasia Limited ABN 84 079 300 379, AFSL No. 233671 (Resolution Life), is general advice and does not take into account your objectives, financial situation or needs. Before acting on this advice, you should consider the appropriateness of the advice having regard to your objectives, financial situation and needs, as well as the product disclosure statement and policy document for the product. Any guarantee offered in the product is only provided by Resolution Life. Any Target Market Determinations for our products can be found at resolutionlife.com.au/target-market-determinations

Resolution Life does not make any representation or warranty as to the accuracy, reliability or completeness of material on this website nor accepts any liability or responsibility for any acts or decisions based on such information.

Resolution Life can be contacted at resolutionlife.com.au/contact-us or by calling 133 731.