1 April 2019 to 30 June 2019

Report from the Commissioner of Taxation under subsection 54(1) 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 April 2019 to 30 June 2019.

The total number of recipients of government co-contributions made under section 6 of the Act during the quarter (paragraph 21A(1)(a) of the regulations)	48,932
Recipients in relation to the financial year 2017–18	42,059
Recipients in relation to the financial year 2016–17	2,794
Recipients in relation to the financial year 2015–16 and earlier years	4,079
The total amount of government co-contributions made under section 6 of the Act made during the quarter (paragraph 21A(1)(b) of the regulations)	$16,975,000
Entitlements in relation to the financial year 2017–18	$14,377,000
Entitlements in relation to the financial year 2016–17	$913,000
Entitlements in relation to the financial year 2015–16 and earlier years	$1,686,000
The total amount of government co-contributions recovered during the quarter as overpaid amounts under section 24 of the Act (paragraph 21A(1)(c) of the regulations)	$209,000

Notes:

Where a recipient receives government co-contributions relating to different financial years the recipient is reported once for each financial year.

1. Where a government co-contribution represents an additional entitlement for a recipient in respect of a financial year, that recipient is not reported again.
2. Both the total and component amounts of government co-contributions determined and the total amount recovered are rounded up to the next whole $1,000. This rounding can result in the total amount being different to the sum of the components.
3. The total amount 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.
4. This report includes determinations of entitlements made during the quarter in respect of the last two financial years and the total of the 2015–16 and earlier years. A determination of entitlement occurs once both an individual’s eligibility and the amount of their entitlement have been established.

 

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