Boost your super with a super co-contribution
If you are able to pay a little extra into your super before the end of financial year 2024, the government may also make a contribution.
Known as a co-contribution, you could receive up to a maximum of $500 contribution from the government into your super account if you are eligible.
The amount of government co-contribution you receive depends on your income and how much you contribute.
I’ve made a payment
If you’ve made a payment, use this online form to let us know so we can match it in our system.
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How much super co-contribution can you get?
If you earn less than $43,445 in 2023-24 financial year, are eligible and make a personal (after-tax) contribution, you could receive a maximum of $500. The government will contribute 50c for every $1 you contribute up to a maximum of $500.
If eligible and you earn between $43,445 and $58,445 in the 2023-24 financial year, you may still receive a partial co-contribution. However, the more you earn, the less co-contribution you’ll receive. If you earn more than $58,445, you can’t receive a co-contribution.
super co-contribution table
The table shows what you could receive as a super co-contribution for the 2023-24 financial year based on how much you contribute as an after-tax contribution before 26 June 2024*:
|If you earn:||And you contribute:||The maximum you could receive:|
|$58,445 (or more)||$0||$0|
How you receive the co-contribution
If you’re eligible, you don’t need to apply for the super co-contribution, as long as we receive your voluntary contribution by 26 June 2024* and have your Tax File Number on record.
Once you lodge your tax return for the 2023-24 financial year, the ATO will pay any eligible co-contributions into your First Super account automatically. Too easy!
You should be eligible for a Government co-contribution as long as:
- your total income for the 2023-24 financial year is less than $58,445
- you make an after-tax super contribution and haven’t claimed a deduction for it
- you haven’t contributed more than the non-concessional contributions cap of $110,000
- you lodge a tax return for that year of income
- you are a permanent resident of Australia and under 71 years of age
- you have supplied your Tax File Number to First Super, and
- at least 10% of your ‘total income’ comes from employment-related activities, and/or running a business.
- not hold a temporary visa at any time during the financial year (unless you are a New Zealand citizen or it was a prescribed visa)
You must provide First Super with your Tax File Number in order to be eligible.
Simply make your payment through a bank transfer (EFT) or BPAY® using the details provided below, quoting your reference number.
Electronic Funds Transfer (EFT)
Account Name: First Super
After making your contribution, let us know you’ve made the payment so we can match it in our system via this online form.
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For more information please see the Australian Taxation Office’s Super co-contribution section.
We’re here to help. So let’s talk.
*All money must have been received by First Super before 26 June 2024 to qualify for the 2023-24 financial year.
®Registered to BPAY Pty Ltd, ABN 69 079 137 518