Superannuation (Government Co-Contribution for Low Income Earners) Act 2003

PART 2 - GOVERNMENT CO-CONTRIBUTION IN RESPECT OF LOW INCOME EARNERS  

Division 2 - Amount of the Government co-contribution  

SECTION 9   BASIC RULE - GOVERNMENT CO-CONTRIBUTION MATCHES PERSONAL CONTRIBUTIONS  

9(1)   [Amount]  

The amount of the Government co-contribution in respect of a person for an income year is:


(a) for the 2003-04 income year - an amount equal to the sum of the eligible personal superannuation contributions the person makes during the income year; and


(b) for the 2004-05 income year, the 2005-06 income year, the 2006-07 income year, the 2007-08 income year or the 2008-09 income year - an amount equal to 150% of the sum of the eligible personal superannuation contributions the person makes during the income year; and


(c) for the 2009-10, 2010-11 and 2011-12 income years - an amount equal to the sum of the eligible personal superannuation contributions the person makes during the income year; and


(d) for the 2012-13 income year or a later income year - an amount equal to 50 % of the sum of the eligible personal superannuation contributions the person makes during the income year.


(e) (Repealed by No 90 of 2010)

9(2)   [Effect]  

Subsection (1) has effect subject to sections 10 , 10A , 11 , 12 , 21 , 22 and 23 .




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