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  • Annual reports - Super co-contributions

    1 July 2017 to 30 June 2018

    Report from the Commissioner of Taxation under subsection 54(2) of the Superannuation (Government Co-contribution for Low Income Earners) Act 2003 and related regulations on the working of the Act during the period 1 July 2017 to 30 June 2018.

    Total number of beneficiaries of super co-contribution entitlements made during the financial year
    (paragraph 21A(2)(a) of the regulations)

    405,659

    Beneficiaries in relation to the financial year 2016-17

    363,934

    Beneficiaries in relation to the financial year 2015-16

    24,848

    Beneficiaries in relation to the financial year 2014-15

    16,877

     

    Total amount of super co-contribution entitlements made during the financial year
    (paragraph 21A(2)(b) of the regulations)

    $129,999,000

    Entitlements in relation to the financial year 2016-17

    $114,922,000

    Entitlements in relation to the financial year 2015-16

    $7,868,000

    Entitlements in relation to the financial year 2014-15

    $7,209,000

     

    Total of super co-contribution amounts recovered during the financial year
    (paragraph 21A(2)(c) of the regulations)

    $7,015,000

    Number of beneficiaries of a super co-contribution within each of the following prescribed total income ranges - subregulation 21A(3).

    Recipient Total Income Range

    2014-15 and Earlier

    2015-16

    2016-17

    Total

    Under $0

    219

    424

     2,119

    2,762

    $0 to $999

    164

    239

    1,673

    2,076

    $1,000 to $1,999

    138

    196

    1,536

    1,870

    $2,000 to $2,999

    195

    227

    1,705

    2,127

    $3,000 to $3,999

    171

    236

    1,827

    2,234

    $4,000 to $4,999

    183

    228

    2,150

    2,561

    $5,000 to $5,999

    214

    283

    2,548

    3,045

    $6,000 to $6,999

    254

    273

    2,388

    2,915

    $7,000 to $7,999

    214

    262

    2,610

    3,086

    $8,000 to $8,999

    180

    291

    2,791

    3,262

    $9,000 to $9,999

    227

    271

    2,939

    3,437

    $10,000 to $10,999

    232

    297

    3,281

    3,810

    $11,000 to $11,999

    254

    291

    3,400

    3,945

    $12,000 to $12,999

    258

    302

    3,731

    4,291

    $13,000 to $13,999

    260

    313

    3,929

    4,502

    $14,000 to $14,999

    249

    348

    4,215

    4,812

    $15,000 to $15,999

    295

    402

    4,653

    5,350

    $16,000 to $16,999

    278

    388

    4,950

    5,616

    $17,000 to $17,999

    311

    443

    5,507

    6,261

    $18,000 to $18,999

    328

    573

    6,402

    7,303

    $19,000 to $19,999

    328

    519

    6,458

    7,305

    $20,000 to $20,999

    425

    884

    8,774

    10,083

    $21,000 to $21,999

    324

    608

    7,296

    8,228

    $22,000 to $22,999

    302

    522

    7,210

    8,034

    $23,000 to $23,999

    309

    500

    7,198

    8,007

    $24,000 to $24,999

    310

    513

    7,260

    8,083

    $25,000 to $25,999

    299

    599

    7,804

    8,702

    $26,000 to $26,999

    296

    534

    7,932

    8,762

    $27,000 to $27,999

    304

    527

    8,021

    8,852

    $28,000 to $28,999

    326

    575

    8,403

    9,304

    $29,000 to $29,999

    317

    518

    8,360

    9,195

    $30,000 to $30,999

    329

    558

    8,948

    9,835

    $31,000 to $31,999

    311

    538

    8,741

    9,590

    $32,000 to $32,999

    340

    560

    9,039

    9,939

    $33,000 to $33,999

    312

    533

    9,167

    10,012

    $34,000 to $34,999

    323

    501

    9,454

    10,278

    $35,000 to $35,999

    347

    581

    9,775

    10,703

    $36,000 to $36,999

    354

    661

    10,089

    11,104

    $37,000 to $37,999

    393

    750

    10,895

    12,038

    $38,000 to $38,999

    335

    622

    10,432

    11,389

    $39,000 to $39,999

    386

    546

    10,183

    11,115

    $40,000 to $40,999

    371

    569

    10,726

    11,666

    $41,000 to $41,999

    377

    643

    10,654

    11,674

    $42,000 to $42,999

    430

    602

    10,409

    11,441

    $43,000 to $43,999

    367

    599

    10,416

    11,382

    $44,000 to $44,999

    371

    596

    10,619

    11,586

    $45,000 to $45,999

    387

    640

    10,756

    11,783

    $46,000 to $46,999

    428

    613

    10,483

    11,524

    $47,000 to $47,999

    334

    616

    10,534

    11,484

    $48,000 to $48,999

    333

    594

    10,668

    11,595

    $49,000 to $49,999

    216

    621

    10,479

    11,316

    $50,000 to $50,999

    165

    318

    10,698

    11,181

    $51,000 to $51,999

    138

     

    255

    393

    $52,000 to $52,999

    154

     

    26

    180

    $53,000 to $53,999

    139

    1

    56

    196

    $54,000 to $54,999

    147

     

    40

    187

    $55,000 to $55,999

    169

     

    45

    214

    $56,000 to $56,999

    157

     

    54

    211

    $57,000 to $57,999

    144

     

    55

    199

    $58,000 to $58,999

    132

     

    63

    195

    $59,000 to $59,999

    123

     

    66

    189

    $60,000 to $60,999

    118

     

    78

    196

    $61,000 to $61,999

    83

     

    76

    159

    $62,000 to $62,999

     

     

    70

    70

    $63,000 to $63,999

     

     

    82

    82

    $64,000 to $64,999

     

     

    80

    80

    $65,000 to $65,999

     

     

    101

    101

    $66,000 to $66,999

     

     

    67

    67

    $67,000 to $67,999

     

     

    64

    64

    $68,000 to $68,999

     

     

    56

    56

    $69,000 to $69,999

     

     

    41

    41

    $70,000 and above

     

     

    324

    324

    Total

    16,877

    24,848

    363,934

    405,659

    Number of spouses of super co-contribution beneficiaries with taxable income within each of the following prescribed income ranges for the financial year to which the entitlement relates - subregulation 21A(4)

    Spouse Taxable Income Range

    2013-14 and Earlier

    2014-15

    2015-16

    2016-17

    Total

    Under $0

    41

    53

    284

    1,859

    2,237

    $0 to $4,999

    91

    136

    649

    8,647

    9,523

    $5,000 to $9,999

    85

    84

    552

    6,950

    7,671

    $10,000 to $14,999

    114

    89

    634

    8,409

    9,246

    $15,000 to $19,999

    166

    149

    890

    10,272

    11,477

    $20,000 to $24,999

    172

    208

    1,189

    12,797

    14,366

    $25,000 to $29,999

    166

    165

    837

    10,853

    12,021

    $30,000 to $34,999

    144

    125

    783

    10,735

    11,787

    $35,000 to $39,999

    173

    149

    927

    11,937

    13,186

    $40,000 to $44,999

    152

    127

    745

    11,039

    12,063

    $45,000 to $49,999

    105

    103

    611

    10,620

    11,439

    $50,000 to $54,999

    94

    91

    529

    9,901

    10,615

    $55,000 to $59,999

    89

    87

    477

    9,151

    9,804

    $60,000 to $64,999

    60

    93

    414

    8,485

    9,052

    $65,000 to $69,999

    75

    76

    463

    8,120

    8,734

    $70,000 to $74,999

    69

    66

    369

    7,719

    8,223

    $75,000 to $79,999

    63

    63

    383

    7,356

    7,865

    $80,000 to $84,999

    75

    91

    382

    6,858

    7,406

    $85,000 to $89,999

    57

    73

    348

    6,345

    6,823

    $90,000 to $94,999

    63

    59

    333

    5,828

    6,283

    $95,000 to $99,999

    34

    48

    263

    5,366

    5,711

    $100,000 to $149,999

    265

    325

    1,656

    28,975

    31,221

    $150,000 to $199,999

    112

    153

    725

    9,398

    10,388

    $200,000 to $249,999

    29

    66

    317

    3,639

    4,051

    $250,000 to $299,999

    20

    37

    183

    1,772

    2,012

    $300,000 to $349,999

    13

    17

    109

    922

    1,061

    $350,000 to $399,999

    9

    9

    78

    605

    701

    $400,000 to $449,999

    4

    5

    50

    394

    453

    $450,000 to $499,999

     1

    5

    35

    268

    309

    $500,000 to $549,999

     

     3

    26

    178

    207

    $550,000 to $599,999

     

     

    22

    161

    183

    $600,000 to $649,999

    1

    2

    15

    99

    117

    $650,000 to $699,999

     3

    3

    10

    69

    85

    $700,000 to $749,999

     1

    2

    10

    52

    65

    $750,000 to $799,999

     

     2

    5

    36

    43

    $800,000 to $849,999

     

     2

    5

    26

    33

    $850,000 to $899,999

     

     

    8

    35

    43

    $900,000 to $949,999

     

     2

    5

    22

    29

    $950,000 to $999,999

     1

    1

    2

    18

    22

    $1,000,000 to $1,999,999

    2

    4

    15

    112

    133

    $2,000,000 to $2,999,999

     2

     

    3

    18

    23

    $3,000,000 to $3,999,999

     

     

     

    5

    5

    $4,000,000 to $4,999,999

     

     

     

    1

    1

    $6,000,000 to $6,999,999

     

     

     

    1

    1

    $9,000,000 to $9,999,999

     

     

     1

    1

    2

    $10,000,000 and above

     

     

     

    1

    1

    Total

    2,551

    2,773

    15,342

    226,055

    246,721

     

    Total number of beneficiaries of super co-contributions who the Commissioner was not satisfied had a spouse at the end of the financial year
    (paragraph 54(2)(e) of the Act)

    132,424

    Beneficiaries in relation to the financial year 2016-17

    113,507

    Beneficiaries in relation to the financial year 2015-16

    8,203

    Beneficiaries in relation to the financial year 2014-15

    2,716

    Beneficiaries in relation to the financial year 2013-14 and earlier years

    7,998

     

    The total number of spouses of super co-contribution beneficiaries whose taxable income was not able to be determined by the Commissioner
    (paragraph 54(2)(f) of the Act)

    26,511

    Entitlements in relation to the financial year 2016-17

    24,369

    Entitlements in relation to the financial year 2015-16

    1,303

    Entitlements in relation to the financial year 2014-15

    366

    Entitlements in relation to the financial year 2013-14 and earlier years

    473

    NOTES:

    1. A determination of entitlement occurs once both an individual’s eligibility and the amount of their entitlement have been established.
    2. Where a beneficiary receives super co-contribution entitlements relating to different financial years the beneficiary is reported once for each financial year.
    3. Where a super co-contribution entitlement represents an additional entitlement for a beneficiary in respect of the same financial year, that beneficiary is not reported again.
    4. The total of amounts recovered includes amounts repaid to the Commissioner and amounts (new entitlements) offset against unrecovered overpayments (that is, reduced entitlements for a different year). A reduced entitlement, and thus the need to recover amounts, can result from an amendment to an individual’s income tax assessment or a change to the superannuation contributions reported for that individual.
    5. Both the total amount of super co-contribution entitlements made and recovered by the Commissioner is rounded up to the next whole $1,000.
    6. Reconciliation of the annual and quarterly reports:    
      1. The total number of beneficiaries and amounts of a super co-contribution made during the financial year is less than the sum of the quarterly reports. This is due to beneficiaries who were reported in a quarterly period, later being determined as ineligible and consequently not reported as a beneficiary for the whole financial year. Entitlements are also rounded up to the next whole $1,000.
      2. The total amount of super co-contributions recovered during the financial year is equal to the sum of the quarterly reports.
    7. In relation to the number of beneficiaries of a super co-contribution within the prescribed income ranges there are some income ranges with no identified beneficiaries. This is for one of two reasons:    
      1. The expansion of the co-contribution scheme to the self employed from 1 July 2007, whereby total income would be reduced by business expenses when determining entitlement.
      2. The indexation of the income thresholds, commencing with the 2007 year of entitlement.
      Last modified: 16 Apr 2019QC 25777