Australia's Super Co-Contribution: The Government Will Give You Up to $500 for Free

The Government Wants to Give You Money. Seriously.

There's a scheme in Australia where if you make a personal (after-tax) super contribution, the government matches it — up to $500 per year. It's called the super co-contribution, and it's been around for years. But most people who qualify have never claimed it.

Why? Because it's automatic — but only if you actually make the contribution. And most people don't.

How It Works

If your total income is $45,400 or less, and you make a personal after-tax contribution of at least $1,000 to your super, the government contributes $500 into your super fund.

That's a 50% return on $1,000. Instantly. Risk-free.

If you earn between $45,400 and $60,400, the co-contribution reduces gradually.

The Eligibility Checklist

You qualify if you:

• Are under 71 years old at the end of the financial year
• Have total income of $60,400 or less (2024-25 year)
• Have at least 10% of your income from employment (or self-employment)
• Make a personal (after-tax) contribution to your super
• Lodge your tax return

You do NOT need to apply. The ATO calculates it automatically when you lodge your tax return and pays it directly into your super fund. You can check your co-contribution eligibility using the ATO's online calculator to see exactly how much you'd receive.

How to Actually Get It

1. Check your income is under $60,400
2. Make a personal after-tax contribution to your super (transfer from your bank account to your super fund)
3. Lodge your tax return
4. The ATO does the rest

Most super funds let you make one-off BPAY contributions. It takes 10 minutes — just find your super fund's BPAY details and transfer the money today.

The Compound Effect

$500/year might not sound life-changing. But invested in super over 30 years at average returns, that's roughly $50,000 in extra retirement savings — from a scheme most people never use. Set a reminder before June 30 each year and don't leave free money on the table.