• Annual reports - Super co-contributions

    1 July 2016 to 30 June 2017

    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 2016 to 30 June 2017.

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

    451,137

    Beneficiaries in relation to the financial year 2015-16

    407,511

    Beneficiaries in relation to the financial year 2014-15

    424,855

    Beneficiaries in relation to the financial year 2013-14

    18,771

     

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

    $142,835,000

    Entitlements in relation to the financial year 2015-16

    $126,402,000

    Entitlements in relation to the financial year 2014-15

    $7,776,000

    Entitlements in relation to the financial year 2013-14

    $8,657,000

     

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

    $1,232,365

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

    Recipient Total Income Range

    2013-14 and Earlier

    2014-15

    2015-16

    Total

    Under $0

    232

    462

     2,777

    3,471

    $0 to $999

    177

    235

     2,252

    2,664

    $1,000 to $1,999

    155

    213

    1,942

    2,310

    $2,000 to $2,999

    154

    217

    2,032

    2,403

    $3,000 to $3,999

    157

    211

    2,344

    2,712

    $4,000 to $4,999

    172

    240

    2,495

    2,907

    $5,000 to $5,999

    212

    310

    3,199

    3,721

    $6,000 to $6,999

    196

    276

    2,919

    3,391

    $7,000 to $7,999

    199

    282

    3,051

    3,532

    $8,000 to $8,999

    220

    287

    3,251

    3,758

    $9,000 to $9,999

    254

    287

    3,360

    3,901

    $10,000 to $10,999

    239

    347

    3,899

    4,485

    $11,000 to $11,999

    220

    293

    3,905

    4,418

    $12,000 to $12,999

    223

    342

    4,167

    4,732

    $13,000 to $13,999

    251

    354

    4,524

    5,129

    $14,000 to $14,999

    234

    351

    4,856

    5,441

    $15,000 to $15,999

    342

    396

    5,400

    6,138

    $16,000 to $16,999

    317

    388

    5,658

    6,363

    $17,000 to $17,999

    301

    456

     6,339

    7,096

    $18,000 to $18,999

    343

    587

    7,342

    8,272

    $19,000 to $19,999

    323

    547

    7,484

    8,354

    $20,000 to $20,999

    393

    879

     10,014

    11,286

    $21,000 to $21,999

    295

    578

     8,255

    9,128

    $22,000 to $22,999

    283

    523

     8,246

    9,052

    $23,000 to $23,999

    318

    530

     8,321

    9,169

    $24,000 to $24,999

    295

    556

     8,409

    9,260

    $25,000 to $25,999

    308

    563

     8,859

    9,730

    $26,000 to $26,999

    345

    555

     9,036

    9,936

    $27,000 to $27,999

    282

    534

     9,067

    9,883

    $28,000 to $28,999

    350

    552

    9,300

    10,202

    $29,000 to $29,999

    309

    538

     9,361

    10,208

    $30,000 to $30,999

    307

    567

     10,026

    10,900

    $31,000 to $31,999

    346

    503

     9,821

    10,670

    $32,000 to $32,999

    334

    543

     10,178

    11,055

    $33,000 to $33,999

    344

    534

    10,425 

    11,303

    $34,000 to $34,999

    293

    564

    10,674 

    11,531

    $35,000 to $35,999

    358

    596

    11,342 

    12,296

    $36,000 to $36,999

    401

    644

    11,363 

    12,408

    $37,000 to $37,999

    400

    736

    12,471 

    13,607

    $38,000 to $38,999

    375

    617

    11,830

    12,822

    $39,000 to $39,999

    387

    629

    11,860 

    12,876

    $40,000 to $40,999

    398

    649

     12,214

    13,261

    $41,000 to $41,999

    410

    662

    11,891 

    12,963

    $42,000 to $42,999

    437

    590

    12,025 

    13,052

    $43,000 to $43,999

    393

    625

    11,869 

    12,887

    $44,000 to $44,999

    419

    609

    11,565 

    12,593

    $45,000 to $45,999

    450

    660

    12,084 

    13,194

    $46,000 to $46,999

    436

    647

     11,868

    12,951

    $47,000 to $47,999

    367

    643

    12,272 

    13,282

    $48,000 to $48,999

    327

    625

    11846 

    12,798

    $49,000 to $49,999

    249

    323

    12,074 

    12,646

    $50,000 to $50,999

    279

     

     5,749

    6,028

    $51,000 to $51,999

    282

     

     

    282

    $52,000 to $52,999

    304

     

     

    304

    $53,000 to $53,999

    288

     

     

    288

    $54,000 to $54,999

    305

     

     

    305

    $55,000 to $55,999

    294

     

     

    294

    $56,000 to $56,999

    308

     

     

    308

    $57,000 to $57,999

    318

     

     

    318

    $58,000 to $58,999

    267

     

     

    267

    $59,000 to $59,999

    248

     

     

    248

    $60,000 to $60,999

    197

     

     

    197

    $61,000 to $61,999

    151

     

     

    151

    Total

    18,771

    24,855

    407,511

    451,137

    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

    2012-13 and Earlier

    2013-14

    2014-15

    2015-16

    Total

    Under $0

    55

    41

    289

    2,213

    2,598

    $0 to $4,999

    117

    128

    678

    8,908

    9,831

    $5,000 to $9,999

    81

    81

    519

    7,578

    8,259

    $10,000 to $14,999

    111

    89

    558

    9,386

    10,144

    $15,000 to $19,999

    148

    152

    838

    11,567

    12,705

    $20,000 to $24,999

    161

    174

    1,170

    14,225

    15,730

    $25,000 to $29,999

    128

    136

    876

    12,084

    13,224

    $30,000 to $34,999

    140

    128

    818

    11,956

    13,042

    $35,000 to $39,999

    147

    144

    940

    13,476

    14,707

    $40,000 to $44,999

    127

    122

    706

    12,558

    13,513

    $45,000 to $49,999

    98

    105

    645

    11,842

    12,690

    $50,000 to $54,999

    103

    86

    608

    11,204

    12,001

    $55,000 to $59,999

    82

    71

    508

    10,266

    10,927

    $60,000 to $64,999

    80

    72

    430

    9,575

    10,157

    $65,000 to $69,999

    71

    57

    410

    9,198

    9,736

    $70,000 to $74,999

    57

    67

    369

    8,683

    9,176

    $75,000 to $79,999

    73

    58

    416

    8,263

    8,810

    $80,000 to $84,999

    57

    64

    372

    7,937

    8,430

    $85,000 to $89,999

    43

    48

    318

    6,935

    7,344

    $90,000 to $94,999

    48

    61

    310

    6,530

    6,949

    $95,000 to $99,999

    33

    42

    301

    5,786

    6,162

    $100,000 to $149,999

    215

    291

    1,624

    31,813

    33,943

    $150,000 to $199,999

    71

    128

    705

    10,910

    11,814

    $200,000 to $249,999

    38

    45

    318

    4,305

    4,706

    $250,000 to $299,999

    19

    27

    171

    1,992

    2,209

    $300,000 to $349,999

    13

    13

    106

    1,050

    1,182

    $350,000 to $399,999

    7

    10

    62

    701

    780

    $400,000 to $449,999

    1

    7

    61

    473

    542

    $450,000 to $499,999

     6

    7

    28

    320

    361

    $500,000 to $549,999

    1

     

    22

    230

    253

    $550,000 to $599,999

     2

    3

    13

    160

    178

    $600,000 to $649,999

    1

     1

    14

    106

    122

    $650,000 to $699,999

     

    1

    7

    92

    100

    $700,000 to $749,999

     

    3

    10

    63

    76

    $750,000 to $799,999

     

     

    7

    70

    77

    $800,000 to $849,999

     

     1

    6

    48

    55

    $850,000 to $899,999

     

     

    2

    42

    44

    $900,000 to $949,999

     

     

    2

    26

    28

    $950,000 to $999,999

     

    1

    2

    24

    27

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

     1

    4

    24

    173

    202

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

     

     

    3

    30

    33

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

     

     

    3

    14

    17

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

     

     

     

    2

    2

    $5,000,000 to $5,999,999

     

     

     

    2

    2

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

     

     

     

    1

    1

    $8,000,000 to $8,999,999

     

     

     

    1

    1

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

     

     

     

    1

    1

    $10,000,000 and above

     

     

     

    1

    1

    Total

    2,335

    2,468

    15,269

    252,820

    272,892

     

    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)

    150,184

    Beneficiaries in relation to the financial year 2015-16

    128,675

    Beneficiaries in relation to the financial year 2014-15

    8,267

    Beneficiaries in relation to the financial year 2013-14

    2,609

    Beneficiaries in relation to the financial year 2012-13 and earlier years

    10,633

     

    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)

    28,060

    Entitlements in relation to the financial year 2015-16

    26,015

    Entitlements in relation to the financial year 2014-15

    1,319

    Entitlements in relation to the financial year 2013-14

    333

    Entitlements in relation to the financial year 2012-13 and earlier years

    393

    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: 19 Oct 2017QC 25777