The maximum co-contribution amount that you can receive ($1,000) is reduced by 3.333 cents for each $1 of your total income over $31,920. The co-contribution phases out completely where your total income is $61,920 or more.
Provided you are entitled to receive the co-contribution, the minimum amount payable is $20.
$1,000 - {[(assessable income + reportable fringe benefits + reportable employer superannuation contributions - business deductions) - $31.920] x 0.0333}
The co-contribution payable is the lesser of:
the maximum co-contribution amount, or
the amount of personal super contributions x 1.5.
The co-contribution:
must be preserved in the fund (it can only be accessed when other preserved amounts can be accessed),
is not included as income in your tax return,
will not be subject to any taxation when paid to the fund, and
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