Government super contributions
You may be eligible for the super co-contribution, low-income super contribution (LISC) from the 2012–13 to 2016–17 financial years, or low income superannuation tax offset (LISTO) from 1 July 2017. This means the government also adds to your super.
You don't need to apply for these government super contributions. If you're eligible and your fund has your tax file number (TFN), we will pay it to your fund account automatically.
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The super co-contribution helps eligible people boost their retirement savings.
If you are a low or middle-income earner and make personal (after-tax) super contributions to your super fund, the government also makes a contribution (called a co-contribution) up to a maximum amount of $500.
From the 2017–18 financial year, to be eligible for a co-contribution your total superannuation balance must be less than $1.6 million. The contribution you make to your superannuation fund must not be more than your annual non-concessional contributions cap.
If you have more than one super fund and you want your co-contribution paid to a particular one, use the superannuation fund nomination form.
If you are now retired and no longer have an eligible super account that will accept the co-contribution, you can request a direct payment. Request this using your myGovExternal Link account or by completing an application for direct payment of government super contributions (NAT10759, PDF 226KB) form.
Low-income super contribution
The low-income super contribution (LISC) is a government superannuation payment of up to $500 to help low-income earners save for retirement.
If you earn $37,000 or less a year, you may be eligible to receive a LISC payment directly into your super fund.
The LISC is 15% of the concessional (before tax) super contributions you or your employer pays into your super fund from the 2012–13 to 2016–17 financial years.
You can apply to have your LISC paid directly to you if you have reached your ‘preservation age’ and are retired. Download the form Application for direct payment of government super contributions (NAT 10759, PDF 226KB).
Low income superannuation tax offset
From 1 July 2017 the government will introduce the low income superannuation tax offset (LISTO) to help low-income earners save for retirement.
If you earn income up to $37,000, you may be eligible to receive a refund into your superannuation account. This is on the tax paid on your concessional superannuation contributions up to a cap of $500.
This means that most low income earners will pay no tax on their super contributions.
Check my superYou may be eligible for either the super co-contribution or the low-income super contribution or both, or the low income superannuation tax offset from 1 July 2017. This means the government also adds to your super.
Version history for this content page
05 December 2016
Reflects superannuation reforms passed by Parliament on 23 November 2016.